Vietnamese billionaire reaffirms steadfast commitment to EV maker VinFast
Vietnam’s richest man, billionaire Pham Nhat Vuong, says he personally and the conglomerate that he chairs, Vingroup, will continue financing VinFast despite heavy losses incurred by the EV-maker since 2017.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
No Vinhomes funding for VinFast: CEO
Vinhomes CEO Nguyen Thu Hang says the residential property development arm of Vietnam’s private conglomerate Vingroup has not provided financing for other companies in the group’s ecosystem, including EV-maker VinFast.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
ESG rules must be tightened to unlock green capital flows: HSBC exec
Lam Thuy Nga, country head of large corporate, wholesale banking at HSBC Vietnam, shares her thoughts from the Vietnam Connect Forum 2024.
Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7
EV maker VinFast posts 270% revenue growth in Q1
Vietnamese electric vehicle (EV) maker VinFast on Wednesday reported revenue growth of 269.7% year-on-year to $302.6 million in the first quarter of 2024.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast begins sales of VF DrgnFly electric bike in United States
VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, will begin selling its VF DrgnFly electric bike in the U.S. later this month, with a listed price of $2,599, the EV maker said Friday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam EV maker VinFast opens first dealership in Indonesia
Indonesian firm PT Gallerie Setia Utama has opened the country’s first VinFast dealership, marking a milestone for the Vietnamese electric vehicle (EV) maker.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast inks EV distribution pact for Micronesia, launches EV charging stations venture
VinFast, the electric vehicle arm of Vietnamese conglomerate Vingroup, said Wednesday that it has signed a cooperation agreement with Guam AutoSpot to distribute its EVs in Micronesia.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast to attend motor shows in Thailand, Canada, sell EVs in Africa
VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, will attend international motor shows in Thailand and Canada, and attempt to break into the African market this year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s Jan-Feb auto sales down 23%
The Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 30,876 vehicles in the first two months of 2024, down 23% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam outbound investment shrinks 78% to $25 mln in Jan-Feb
Outbound investment by Vietnamese companies plunged 78.3% year-on-year to $25 million in the first two months of this year, all via fresh projects, the Ministry of Planning and Investment said.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast's move into Indian market a significant stride in global expansion: RMIT expert
Indian-born RMIT senior lecturer Dr. Majo George hailed VinFast’s decision to open a manufacturing plant in India as a strategic manoeuvre that will not only leverage the potential of a burgeoning electric vehicle (EV) market but also position the company favorably against future competitors.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast begins building $500 mln EV factory in India
VinFast Auto, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, officially broke ground on its first integrated EV manufacturing facility in the state of Tamil Nadu, India, on Sunday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam auto sales up 11% to 19,243 units in Jan
The Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 19,243 vehicles in January, down 50% from December 2023 but up 11% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast's 2023 vehicle sales up 111% to $1.1 bln
VinFast Auto, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, earned $1,096.9 million from vehicle sales in 2023, up 111.3% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam automaker VinFast inks EV supply deal with Indonesian firms
VinFast, the carmaker subsidiary of Vietnamese conglomerate Vingroup, has signed a memorandum of understanding (MoU) with three Indonesian business clients to provide 600 electric vehicles.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast to break ground for integrated EV facility in India
VinFast Auto, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, will break ground on its integrated manufacturing project in Thoothukudi city, Tamil Nadu, India this Sunday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast links up with 5 Indonesia auto dealers to start sales in 2024
VinFast, the electric vehicle arm of Vietnamese conglomerate Vingroup, has signed letters of intent with five dealers in Indonesia to expand its distribution network in the Indonesian market, the EV maker announced Friday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast debuts right-hand drive electric vehicles in Indonesia
VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, debut its first range of right-hand drive electric vehicles (EV) at the Indonesia International Motor Show (IIMS) 2024 on Thursday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast expects 40,000-50,000 vehicle sales by year-end: executive
VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, expects sales of 40,000-50,000 units by year-end, chairwoman Le Thi Thu Thuy told CNBC in an interview on Thursday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vingroup earns consolidated net profit of $84.5 mln in 2023
Vingroup, Vietnam’s largest private conglomerate, earned a consolidated net profit of VND2.05 trillion ($84.5 million) in 2023, representing a decrease of 76.5% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Philippines seeks collaboration with Vietnam’s VinFast in EV production: President Marcos
The Philippines “eagerly anticipate collaborating with Vingroup on electric vehicle (EV) production and local mineral processing,” Philippine President Ferdinand Marcos Jr. said on his Facebook on Monday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnamese carmaker VinFast delivers 34,855 electric vehicles globally
Vietnam’s VinFast Auto delivered 34,855 electric vehicles (EV) around the world in 2023, according to a filing with U.S.-based stock exchange Nasdaq.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam, Indonesia to cooperate in digital economy, EV ecosystem development
Vietnam and Indonesia will expand cooperation to new fields including artificial intelligence, digital economy, green economy and renewable energy; and step up investment in developing electric vehicle (EV) ecosystems and batteries.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast unveils new electric pickup truck concept in US
VinFast Auto, Vietnam's leading electric vehicle manufacturer, on Tuesday unveiled its new electric vehicle concept - the VF Wild - at the Consumer Electronics Show 2024 (CES 2024) in the U.S.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
EV maker VinFast to build $500 mln facility in India, towards $2 bln investment
VinFast, the electric vehicle arm of Vietnamese conglomerate Vingroup, will build a $500 million EV facility in Tamil Nadu state of India, towards a total investment of $2 billion.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vingroup founder Pham Nhat Vuong becomes CEO of EV maker VinFast
Billionaire Pham Nhat Vuong, founder and chairman of Vietnamese conglomerate Vingroup, has become CEO of VinFast, the electric vehicle (EV) arm of Vingroup.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam holds its own in challenging 2023 with more highs than lows
Vietnam showcased impressive resilience in the face of numerous challenges faced in 2023, recording several economic and diplomatic highs and some lows. The Investor looks back.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
VinFast, Marubeni link up in further usage of EV battery
VinFast, the electric vehicle (EV) arm of Vietnamese private conglomerate Vingroup, and Marubeni, a major Japanese trading and investment conglomerate, will cooperate in exploring opportunities in secondary use of EV batteries, towards a circular economy model.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Japanese giants Tokyo Gas, Marubeni, Aeon Mall announce Vietnam investments
Corporate giants Tokyo Gas, Marubeni and Aeon Mall were among several dozen Japanese firms that announced new and additional investments in Vietnam Saturday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam carmaker VinFast to get $500 mln loan from US development institution
Vietnamese electric vehicle maker VinFast and the U.S. International Development Financial Corporation (DFC) have signed a letter of interest (LoI) to consider a formal application by VinFast for a $500 million loan to establish a lithium-ion battery manufacturing facility in Vietnam.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Automaker VinFast not subject to lawsuits in US: executive
Electric vehicle (EV) maker VinFast under Vietnamese private conglomerate Vingroup is not currently subject to any lawsuits in the U.S., said Ho Ngoc Lam, head of Vingroup's legal board and deputy CEO in charge of legal issues at VinFast.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
American listing helps Vietnam firms elevate standing: US commissioner
The key values that fuel the U.S. capital markets such as strong corporate governance and transparency through public disclosures help elevate the standing of foreign companies, including those from Vietnam, that are listed on U.S. securities markets, said Caroline D. Pham, commissioner of the Commodity Futures Trading Commission (CFTC).
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Rising land prices in northern Vietnam pose concern to investors: Savills
A substantial increase in land prices in Vietnam’s Northern Economic Zone (NEZ) could unnerve investors who seek to set up manufacturing facitiies here, real estate services firm Savills Vietnam said in its latest note.
Industrial real estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Tech giants showcase advances at Vietnam’s biggest-ever innovation expo
The ongoing Vietnam International Innovation Expo (VIIE) 2023, the biggest-ever event of its kind in the country, is drawing the participation of multiple domestic and international technology companies.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Automaker VinFast enters $1 bln standby equity subscription agreement with Yorkville Advisors
VinFast, the electric vehicle (EV) maker under Vietnamese private conglomerate Vingroup, has entered a standby equity subscription agreement with Yorkville Advisors, a global investment fund manager.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
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