Latest news with #VinFastAuto
Bloomberg
6 days ago
- Automotive
- Bloomberg
VinFast in Talks for $200 Million Loan Ahead of India Debut
VinFast Auto Ltd. is in talks to raise a loan of as much as $200 million from Indian state-owned banks, people familiar with the plan said, ahead of the Vietnamese electric vehicle maker's debut in the world's third-biggest car market. Central Bank of India Ltd. and Union Bank of India Ltd. are among those in discussions with VinFast for the loan, the people said, asking not to be identified as the talks are private.
Business Times
24-04-2025
- Automotive
- Business Times
Vietnam's VinFast to open India factory Jun 30, Indonesia plant in October
[HANOI] Vietnamese electric vehicle maker VinFast Auto is pushing expansion into Asian markets instead of North America and Europe, founder Pham Nhat Vuong said during a Hanoi shareholders' meeting for parent Vingroup. VinFast has no current plans to boost sales in North America and Europe due to high logistic fees and will instead focus on India, Indonesia and the Philippines, as well as the Vietnam market, said Vuong, who is also the company's chief executive officer. VinFast expects to open its India manufacturing plant Jun 30, followed by an Indonesia plant in October, he said. The strategy shift follows the delayed the opening of a factory in North Carolina by three years to 2028. VinFast expects to deliver over 200,000 vehicles in Vietnam this year, Vuong said. He said the company will be close to reaching a break-even point in the Vietnam market in 2025. The company has been bleeding cash since it shipped its first vehicles to the US in late 2022. VinFast's billionaire founder poured about 27.3 trillion dong (S$1.4 billion) into the company in 2023 and 2024 from his personal wealth, according to Vingroup's audited financial report released late last month. In November, he committed to give about US$2 billion from his personal wealth to the company through 2026 and said last year that he was willing to bet all his money on the company's growth. Meanwhile, Vingroup said in November it would loan VinFast as much as US$1.38 billion. BLOOMBERG
Business Times
24-04-2025
- Automotive
- Business Times
Vietnam's VinFast to open India factory June 30, Indonesia plant in October
[HANOI] Vietnamese electric vehicle maker VinFast Auto is pushing expansion into Asian markets instead of North America and Europe, founder Pham Nhat Vuong said during a Hanoi shareholders' meeting for parent Vingroup. VinFast has no current plans to boost sales in North America and Europe due to high logistic fees and will instead focus on India, Indonesia and the Philippines, as well as the Vietnam market, said Vuong, who is also the company's chief executive officer. VinFast expects to open its India manufacturing plant Jun 30, followed by an Indonesia plant in October, he said. The strategy shift follows the delayed the opening of a factory in North Carolina by three years to 2028. VinFast expects to deliver over 200,000 vehicles in Vietnam this year, Vuong said. He said the company will be close to reaching a break-even point in the Vietnam market in 2025. VinFast has been bleeding cash since it shipped its first vehicles to the US in late 2022. VinFast's billionaire founder poured about 27.3 trillion dong (S$1.4 billion) into the company in 2023 and 2024 from his personal wealth, according to Vingroup's audited financial report released late last month. In November, he committed to give about US$2 billion from his personal wealth to the company through 2026 and said last year that he was willing to bet all his money on the company's growth. Meanwhile, Vingroup said in November it would loan VinFast as much as US$1.38 billion. BLOOMBERG
Yahoo
08-04-2025
- Automotive
- Yahoo
Electric Vehicles Today - Navigating Shifts In Innovation And Policy
In recent developments, the article highlights Attorney General Pam Bondi's decisive actions against domestic terrorism, focusing on the prosecution of individuals targeting Tesla. These legal measures reflect broader governmental efforts to ensure a secure environment conducive to innovation within the electric vehicle sector. Additionally, the discussion around tariffs and economic policies suggests significant changes in trade dynamics that could impact the EV industry. Moreover, the departure of Elon Musk from government work is noted, emphasizing his continued influence and connection to the sector. These events underscore the shifting landscape in which the electric vehicle industry operates. last closed at $239.43 down 10.4%. Elsewhere in the market, lagged, down 24.6% to end trading at HK$41.80. Tesla's breakthrough in Full Self-Driving and Optimus robots promises rapid growth potential. Dive deeper into Tesla's narrative to understand these game-changing advancements. For more on this topic, dive into our Market Insights article, "Automakers Caught in the Tariff Crossfire," which highlights EV market uncertainties amidst tariff challenges—don't miss out on these critical insights! ended the day at $3.46 down 7.5%. Embark on your investment journey to our 50 EV Stocks selection, featuring VinFast Auto, General Motors and BAIC BluePark New Energy TechnologyLtd, right here. Curious About Other Options? Explore 21 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "ThinkCareBelieve: Week 11 America Under President Trump's Leadership" from ThinkCareBelieve on GlobeNewswire (published 04 April 2025) Companies discussed in this article include NYSE:F NYSE:NIO NasdaqGS:TSLA and SEHK:9863. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
07-04-2025
- Automotive
- Yahoo
Electric Vehicles Today - Navigating Shifts In Innovation And Policy
In recent developments, the article highlights Attorney General Pam Bondi's decisive actions against domestic terrorism, focusing on the prosecution of individuals targeting Tesla. These legal measures reflect broader governmental efforts to ensure a secure environment conducive to innovation within the electric vehicle sector. Additionally, the discussion around tariffs and economic policies suggests significant changes in trade dynamics that could impact the EV industry. Moreover, the departure of Elon Musk from government work is noted, emphasizing his continued influence and connection to the sector. These events underscore the shifting landscape in which the electric vehicle industry operates. last closed at $239.43 down 10.4%. Elsewhere in the market, lagged, down 24.6% to end trading at HK$41.80. Tesla's breakthrough in Full Self-Driving and Optimus robots promises rapid growth potential. Dive deeper into Tesla's narrative to understand these game-changing advancements. For more on this topic, dive into our Market Insights article, "Automakers Caught in the Tariff Crossfire," which highlights EV market uncertainties amidst tariff challenges—don't miss out on these critical insights! ended the day at $3.46 down 7.5%. Embark on your investment journey to our 50 EV Stocks selection, featuring VinFast Auto, General Motors and BAIC BluePark New Energy TechnologyLtd, right here. Curious About Other Options? Explore 21 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "ThinkCareBelieve: Week 11 America Under President Trump's Leadership" from ThinkCareBelieve on GlobeNewswire (published 04 April 2025) Companies discussed in this article include NYSE:F NYSE:NIO NasdaqGS:TSLA and SEHK:9863. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
