Latest news with #VinFastAutoLtd
Time of India
4 days ago
- Automotive
- Time of India
VinFast India to delay its Tamil Nadu factory inauguration due to loan talks
VinFast Auto Ltd . is reportedly seeking a loan of up to $200 million from Indian state-owned banks as it prepares to enter the Indian car market, although the inauguration of its Tamil Nadu factory has been delayed to July 30, reports Bloomberg. ETAuto earlier stated that Vietnamese electric vehicle maker is in discussions with lenders like Central Bank of India Ltd. and Union Bank of India Ltd. to secure funding for its initial $500 million investment plan in India, aiming to establish a presence in the competitive Asian market. The company plans to launch its VF6 and VF7 models soon, followed by the VF3 in 2026, while also expanding its global footprint with a new plant in Indonesia expected by October. VinFast 's India factory, located in Tamil Nadu, was initially scheduled to open on June 30. The company has now announced a revised inauguration date. According to sources familiar with the matter told Bloomberg, VinFast is engaging with Indian lenders for the first time. The loan under discussion may be structured in rupees or as foreign currency through the external commercial borrowing route. The terms of the loan are still under discussion and subject to change. The loan is part of VinFast's broader investment strategy in India. The company has earmarked $500 million for its initial foray into the country. VinFast is actively building its distribution network in India.
Time of India
5 days ago
- Automotive
- Time of India
VinFast Auto in talks to secure $200 mn loan from Indian banks
VinFast Auto Ltd. , the Vietnam-based EV maker, is reportedly in discussions to secure a loan of up to $200 million from Indian state-owned banks as it prepares to enter the Indian electric vehicle market, Bloomberg reports. The automaker's move into India is part of a larger $500 million investment plan, with the loan potentially structured in rupees or as foreign currency. This marks VinFast's first engagement with Indian lenders as it shifts focus to Asian markets amid challenges in North America and Europe. Central Bank of India Ltd. and Union Bank of India Ltd. are reportedly in talks with VinFast regarding the loan, as per the sources quoted in Bloomberg's report. As per the report, the loan's structure may be in rupees or as foreign currency through the external commercial borrowing route. The terms are still under discussion and subject to change. VinFast India plant VinFast intends to inaugurate its plant in Tamil Nadu state on June 30. The company is also finalising its local distribution network. The company plans to open bookings for its VF6 and VF7 models in the coming weeks. Bookings for the VF3, a compact EV, are expected to follow in 2026. However, the firm has yet to announce pricing for these models in the budget-conscious Indian market. VinFast's expansion into India is a strategic shift away from North America and Europe, with high logistics costs prompting this change in focus.
Associated Press
28-04-2025
- Automotive
- Associated Press
VinFast Announces 1Q25 Global Deliveries and Date for the Release of First Quarter 2025 Results
HANOI, VIETNAM - Media OutReach Newswire - 28 April 2025 - VinFast Auto Ltd. ('VinFast' or the 'Company') today announced its preliminary vehicle deliveries for the first quarter of 2025. The Company delivered 36,330 electric vehicles ('EVs') globally in 1Q25, representing a 296% increase year-over-year. In the first quarter of 2025, deliveries of the VF 6 model increased by 453% compared to the same period in 2024. Notably, VF 5 (A-segment SUV) deliveries grew 153% year-over-year and VF 6 (B-segment SUV) deliveries grew 453% year-over-year. VF 3 (mini-SUV) and VF 5 accounted for 67% of total deliveries during the quarter, indicating strong market acceptance for VinFast's compact and agile urban vehicle lines. VinFast also announced it delivered 44,904 e-scooters and e-bikes in 1Q25, representing a 473% increase year-over-year. Madam Thuy Le, Chairwoman of VinFast, said: 'Having established a resilient foundation for expansion in 2024, VinFast is poised for significant momentum moving into 2025. Our diverse range of electric vehicles provides us with the confidence to maintain steady growth, adapt effectively to evolving market demands and navigate macroeconomic fluctuations. The VF 3 and VF 5 continued their strong performance as key growth drivers in 1Q25, alongside the promising emergence of models like the VF 6. For 2025, VinFast is steadfast in our mission to spearhead the global adoption of green transportation through innovative, smart vehicles; alongside our efforts to maintain a leading market share in Vietnam and gradually achieve substantial international growth.' Vietnam remains a crucial driver of VinFast's delivery growth. Aligned with its commitment to leading the green transition in its home market, the Company has implemented compelling incentive programs and has officially started pre-orders for its 'Green' vehicle lineup. This initiative is facilitated through a partnership with GSM and VinFast's extensive distribution network across the country. Globally, VinFast is strategically expanding its presence in high-potential Asian markets. The Company has officially launched in India, introduced three models in Indonesia, and five models in the Philippines. Simultaneously, VinFast is actively expanding its network of dealer stores and service centers across these key markets. Underpinning its commitment to meeting escalating demand for green mobility, VinFast is accelerating the development of its global manufacturing footprint. The Company anticipates the operationalization of new production facilities in Indonesia, India, and Ha Tinh (Vietnam) in line with its strategic global expansion roadmap. The Company also announced that it will release its 1Q25 financial results before the market opens on June 9, 2025. On the same day, VinFast's management will hold a live webcast to discuss the Company's business performance and strategy. Details for the call are below: A replay of the webcast will also be made available on the Company's website. For additional information, please visit Investor Relations Email: [email protected] Media Relations Email: [email protected] Note: Preliminary delivery results are subject to change and may differ from the final number of deliveries that will be recognized as vehicle sales revenue for the period as a result of the year end audit. Forward Looking Statements Forward-looking statements contained herein, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. These statements include statements regarding our future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of VinFast, market size and growth opportunities, competitive position and technological and market trends and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'shall,' 'should,' 'expects,' 'plans,' 'anticipates,' 'could,' 'intends,' 'target,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential,' 'goal,' 'objective,' 'seeks,' or 'continue' or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the risk associated with being a growth-stage company in the EV industry; (ii) the unavailability, reduction or elimination of government and economic incentives or government policies that are favorable for EV manufacturers and buyers; (iii) Significant changes or developments in U.S. laws or policies, including changes in U.S. trade policies and tariffs and the reaction of other countries; (iv) the Company's ability to adequately control the costs associated with its operations; (v) the risks of the Company's brand, reputation, public credibility, and consumer confidence in its business being harmed by negative publicity; (vi) competition in the automotive industry; (vii) the ability of the Company to obtain components and raw materials according to schedule at acceptable prices, quality, and volumes from its suppliers;(viii) the demand for, and consumers' willingness to adopt, EVs; (ix) the availability and accessibility of EV charging stations or related infrastructure; (x) failure to remediate the Company's material weaknesses and produce timely and accurate financial statements; (xi) the ability of the Company to achieve profitability, positive cash flows from operating activities, and a net working capital surplus; (xii) the Company's ability to obtain commercially reasonable capital to support its business growth; (xiii) the risk of future restatements to the Company's Financial Statements; (xiv) the Company's reliance on financial and other support from Vingroup and its affiliates and the close association between the Company and Vingroup and its affiliates; (xv) the Company's reliance on its affiliates for its EV deliveries; (xvi) the ability of the Company's controlling shareholder to control and exert significant influence on the Company; and (xvii) other risks discussed in our reports filed or furnished to the SEC. All forward-looking statements attributable to us or people acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date hereof. VinFast does not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If VinFast updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. The inclusion of any statement herein does not constitute an admission by VinFast or any other person that the events or circumstances described in such statement are material. Undue reliance should not be placed upon the forward-looking statements. Hashtag: #VinFast The issuer is solely responsible for the content of this announcement. About VinFast VinFast – a subsidiary of Vingroup JSC – is Vietnam's leading automotive manufacturer committed to its mission of creating a green future for everyone. VinFast manufactures a portfolio of electric SUVs, e-scooters and e-buses in Vietnam and exports to the United States and Europe. Learn more at VinFast deliveries represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the average selling price and various cost components.
Yahoo
24-04-2025
- Automotive
- Yahoo
VinFast Auto Ltd. (VFS): Among EV Penny Stocks From $10 to Under $1
We recently published a list of . In this article, we are going to take a look at where VinFast Auto Ltd. (NASDAQ:VFS) stands against other EV penny stocks. The global electric vehicle (EV) market is on a roll despite the ever-growing tariff turmoil triggered by US President Donald Trump. That was clear as EV sales increased by 29% in the first quarter, to 4.1 million on the sale of 1.7 million units in March. China, which continues to lead the world in EV adoption, reported a 36% year-over-year increase in EV sales in Q1, with sales in March alone topping 1 million units, a record last seen in August 2024. Due to the minimal cross-border EV sales, China is unlikely to experience significant impacts from the US-China tariff dispute. While North American EV sales were up by 16% in the first quarter, adding to the 7.3% increase in 2024, the market's long-term outlook remains unclear. That's in part to Trump's imposition of substantial tariffs on auto parts and other equipment that automakers need to ramp up the development of EVs. The 25% tax imposed in February on cars imported from Canada and Mexico and a larger levy imposed in March on all auto imports is anticipated to trigger a significant increase in EV prices. The impact on affordability and market dynamics is probably substantial, given that about 40% of US EV sales are imported from nations like Mexico, Korea, and Japan. Approximately two-thirds of the electric vehicles sold in the US last year were manufactured domestically, but, like all contemporary cars, the necessary parts and components are procured from various countries worldwide. The ongoing, intense trade conflict with China, the leading global supplier of materials for EV batteries, will further complicate the market. Additionally, there is substantial speculation that the new administration may undo the electric vehicle sales incentives established during the Biden administration, casting a shadow over the outlook for EV sales in the second quarter and beyond. Consequently, the remainder of 2025 is expected to be a tumultuous period for electric vehicle sales in the United States, even with the launch of new products and appealing incentives. Should the new automobile tariffs remain in place, they will create a significant obstacle for numerous automakers, mainly because of the tariffs applied to steel and, crucially for EVs, aluminium. Amid the headwinds, analysts expect 2025 to be a strong year for EV sales in the US, building on the positive momentum in 2024. Likewise, the stocks of companies exposed to the electric vehicle spectacle should be the biggest beneficiary, especially penny stocks trading at highly discounted valuations. To compile this list, we focused on companies within the EV industry, sourced from ETFs trading below $10 as of April 16. From this group, we identified 10 stocks most preferred by institutional investors, including those priced under $1. The leading EV penny stocks are ranked in ascending order based on hedge fund sentiment, derived from Insider Monkey's database of 1,009 hedge funds as of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A row of electric cars being charged simultaneously at a public charging station. VinFast Auto Ltd. (NASDAQ:VFS) is an automotive company that designs and manufactures electric vehicles (EVs), e-scooters, and e-buses. The company has been expanding its global presence as it looks to capitalize on growing demand for electric vehicles. Its competitive edge stems from offering competitively priced EVs while leveraging vertical integration and accessing diverse markets. On March 24, Cantor Fitzgerald analysts reiterated an Overweight stock rating with a $6 price target. The firm echoed VinFast Auto Ltd.'s (NASDAQ:VFS) ambitious expansion plans and robust vehicle delivery numbers. VinFast Auto delivered 97,399 vehicles in 2024, backed by a range of seven EV models. Additionally, it reiterated plans to broaden its product lineup to include electric buses and scooters. VinFast Auto Ltd. (NASDAQ:VFS) also plans to start production of EVs at its new facilities in India and Indonesia to meet the growing demand for EVs in the Southeast Asian markets. On April 11, it also announced a strategic partnership with six distributors to open 60 new showrooms in the Philippines. Overall, VFS ranks 14th on our list of EV penny stocks. While we acknowledge the potential of VFS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than VFS but that trades at less than 5 times its earnings check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
01-04-2025
- Automotive
- Yahoo
Why VinFast Auto Ltd (VFS) is Plunging in 2025?
We recently published a list of . In this article, we are going to take a look at where VinFast Auto Ltd (NASDAQ:VFS) stands against other electric vehicle stocks that are plunging in 2025. The electric vehicle sector surged in popularity during the immediate post-COVID era as investors poured money into what seemed like the future of transportation. Back then, the promise of a green revolution fueled sky-high valuations and bold predictions. But that enthusiasm has since fizzled. Most electric vehicle stocks have plunged significantly and delivered consistent losses to shareholders. Tesla seems to be the only company capable of selling electric vehicles in the West profitably, but even that company has been under tremendous pressure due to the politicization of its brand. After Trump's election, things look even bleaker for these companies and many of them are plunging. That said, many analysts now think that there are buying opportunities here, especially as a large portion of Tesla customers who previously would've bought Teslas are now likely to buy alternative EVs. Trump may also be softer than previously thought on EVs, as EV subsidies are still in place. It's a good idea to take a look at the EV stocks that have been sold off the most so far this year. For this article, I screened the worst-performing electric vehicle stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A lithium battery recharging a fleet of electric vehicles in a parking lot. Number of Hedge Fund Holders In Q4 2024: 5 VinFast Auto Ltd (NASDAQ:VFS) is a Vietnamese automotive company that designs and manufactures electric vehicles (EVs), e-scooters, and e-buses. The stock is down significantly so far in 2025 as VinFast continues to incur substantial losses. For instance, in Q3 2024, the company reported a net loss of $550 million and a gross margin of negative 24%. The EV market remains highly competitive, with established players like Tesla and emerging competitors offering better margins and scale. VinFast's aggressive pricing strategy has yet to translate into profitability or significant market share outside Vietnam. The consensus price target of $8 implies 152.76% upside. VFS stock is down 20.60% year-to-date. Overall, VFS ranks 12th on our list of electric vehicle stocks that are plunging in 2025. While we acknowledge the potential of VFS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VFS but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Related Content NASDAQ Sign in to access your portfolio
