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☆ Momentum of electric vehicle sales will continue, says Vietnam's VinFast
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMomentum of electric vehicle sales will continue, says Vietnam's VinFastVinFast Chairwoman Le Thi Thu Thuy says the world is "still moving" from internal combustion engine vehicles to electric vehicles.

Persons: Vietnam's VinFast, Le

☆ There are many women in leadership positions here, says Vietnam's VinFast
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are many women in leadership positions here, says Vietnam's VinFastVinFast Chairwoman Le Thi Thu Thuy discusses how she navigates the male-dominated electric vehicle industry.

Persons: Vietnam's VinFast, Le

☆ Toyota pledges $8 billion more for US battery plant to rev up EV push
▼ + stars: | 2023-10-31 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 31 (Reuters) - Toyota Motor (7203.T) said on Tuesday it would boost investment by $8 billion and add about 3,000 jobs at its electric-vehicle battery manufacturing plant in North Carolina, accelerating the Japanese automaker's push to electrify its lineup. Toyota's North Carolina facility is set to begin operations in 2025 and will be the company's first automotive battery plant globally. It will have six battery production lines, four supporting hybrid vehicles such as the Prius, and two additional lines to support battery EVs. NORTH CAROLINA HUBNorth Carolina is emerging as a leading hub for electric vehicle and battery manufacturing, with new investments planned by companies ranging from Redwood Materials to Vietnam's Vinfast .

Persons: David, Dee, Delgado, Tesla, North Carolina Governor Roy Cooper, Nathan Gomes, Savio D'Souza, Devika Organizations: New York, REUTERS, Toyota, Ford, General Motors, United Auto Workers union, Tesla, Samsung SDI Co, Panasonic, Chrysler, Stellantis, Materials, North, North Carolina Governor, Thomson Locations: Manhattan , New York City, U.S, North Carolina, Detroit, NORTH CAROLINA, United States, Bengaluru

A VinFast VF8 electric SUV is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. If fulfilled, Europe would become VinFast's biggest overseas market this year. The company had shipped about 2,100 EVs earlier this year to the United States. Should the EU probe conclude that punitive duties on China-made EVs are warranted, VinFast could find its cars are more competitively priced. VinFast, which is part of Vietnamese conglomerate Vingroup (VIC.HM), was formed in 2017 and began making EVs in 2021 after dropping its manufacturing of cars with internal combustion engines.

Persons: Steve Marcus, Thuy, Inovev, VinFast, Phuong Nguyen, Francesco Guarascio, Miral Organizations: Las Vegas Convention, REUTERS, Rights, Reuters, European Union, Nasdaq, EU, Thomson Locations: Las Vegas , Nevada, U.S, Rights HANOI, Europe, France, Germany, Netherlands, VinFast's, Vietnam, United States, Israel, China, Indonesia, India, East, Africa, Latin America

Shares of dedicated EV maker VinFast, which merged with special purpose acquisition company (SPAC) Black Spade, surged on their Nasdaq debut on Tuesday. Other EV SPAC deals, including Lucid (LCID.O), which Black Spade used as the basis of its initial $23 billion valuation of VinFast, have seen their shares tumble after listing. Lucid is valued now at under $15 billion, nearly 40% less than its $24 billion SPAC valuation in 2021. Through the first seven months, it has sold over 16,000, including its sales in Vietnam. The Tesla Model Y is almost $7,000 cheaper than VinFast's VF8 after including federal subsidies.

Persons: Stephane Mahe, Black Spade, Pham Nhat Vuong, David Mansfield, Le, Thuy, VinFast, Vuong, Mansfield, AlixPartners, Tesla, Kevin Krolicki Organizations: REUTERS, Rights, Nasdaq, Ford, General Motors, Tesla, VinFast, VinFast's, EV, U.S ., Thomson Locations: Paris, France, Rights HANOI, U.S . West Coast, Vietnam, United States, Haiphong, North Carolina, China

☆ CEO of Vietnam's VinFast says go-ahead to list on Nasdaq is a 'big milestone'
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEO of Vietnam's VinFast says go-ahead to list on Nasdaq is a 'big milestone'Le Thi Thu Thuy, CEO of the electric vehicle maker, says the listing will "open access to capital markets for us in the future."

Persons: Vietnam's VinFast Organizations: Nasdaq

☆ Vietnam's EV maker VinFast set to break ground on delayed U.S. factory
▼ + stars: | 2023-07-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

VinFast is set to break ground on its delayed U.S. factory on Friday. Vietnam's VinFast will begin construction on its electric vehicle factory in North Carolina on Friday morning local time, the Vietnamese automaker confirmed with CNBC. VinFast vehicles do not currently qualify because they are not built in the country, but are built in Vietnam. The company is also pricing its VF 9 model at a considerable discount to the comparable Tesla Model X. A Tesla Model X costs about $100,000.

Persons: VinFast, Le, CNBC's, Vietnam's VinFast, — CNBC's Penny Chen Organizations: EV, Thuy, CNBC, U.S, Tesla, headcount, Spade Locations: U.S, North Carolina, Vietnam

☆ Vietnam EV maker VinFast sees sales boom, path to breakeven
▼ + stars: | 2023-05-17 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Vuong projected sales of between 40,000 and 50,000 cars this year, up from EV sales of about 7,400 in 2022 when the company's only market was Vietnam. In addition, Vuong said VinFast planned to add two other models to its lineup: an electric pickup truck and a battery-powered city or "mini car." VinFast, which began operations in 2019, has a plant in Vietnam and plans for a second plant to open in North Carolina in 2025. An electric pickup truck would face competition from Rivian Automotive Inc (RIVN.O), Ford Motor Co's (F.N) F-150 Lightning and other models. The entry-level, small EV would face competition from Chinese-made electric vehicles, including from BYD.

☆ Vietnam's VinFast says three sales executives have left EV company
▼ + stars: | 2023-03-17 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

REUTERS/Lisa Baertlein/File PhotoHANOI, March 17 (Reuters) - Vietnamese electric-vehicle (EV) start-up VinFast said on Friday three senior sales and customer-service have left the company this week. In a statement to Reuters, VinFast said Gareth Dunsmore, deputy chief executive for global sales and marketing, had left "due to personal reasons and we respect his decision". VinFast has been selling the first batch of VF8s, rebranded as the City Edition to account for the lower range, on lease in California. In June, VinFast said it had ended its contract with Franck Euvrard, the predecessor as deputy CEO for global sales to just-departed Dunsmore. VinFast lost $2.1 billion in 2022 on revenue of $634 million, it said in a registration statement for an IPO.

☆ VinFast slashes lease prices for first U.S. buyers
▼ + stars: | 2023-02-27 | by ( Phuong Nguyen | ) www.reuters.com time to read: +2 min

[1/2] The logo of Vietnam's VinFast, a fledgling electric vehicle (EV) maker, is pictured in a sales location at a shopping mall in Santa Monica, California, U.S., May 23, 2022. Its website showed as of Monday a monthly lease price of $399 for the vehicle for a 24-month lease. That amounts to a discount of between 33% and 54% from the initially advertised monthly lease price. VinFast said earlier this month that US Bancorp (USB.N) would provide lease financing for the company's sales in the United States. Vehicle subscription service Autonomy has a deal with VinFast to purchase 2,500 EVs, the companies said in November.

☆ Vietnam's VinFast ships first electric vehicles to U.S. customers
▼ + stars: | 2022-11-25 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

The first cars are expected to be handed over to customers by the end of December, the company said. Thuy said VinFast expected to be able to ship a second batch of cars to the United States, its first export market, around January. VinFast is in the process of building an electric vehicle plant in North Carolina that is awaiting final regulatory approval from local officials. VinFast said last week that Autonomy had ordered 2,500 electric vehicles, its largest corporate order to date. VinFast officials said the number 999 for the vehicles shipped in the first batch had been chosen because it is considered a lucky number in Vietnam.

☆ Vietnam's VinFast recalls a third of its sold EVs to replace sensors
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

HANOI, Oct 15 (Reuters) - Vietnam's VinFast said on Saturday it would recall 730 of its model VF e34 electric cars (EVs), which are available only on the domestic market, to make checks and replace their side crash sensors. VinFast, which began operations in 2019, is a unit of Vietnam's biggest conglomerate Vingroup (VIC.HM) and has sold 2,208 EVs in total since its launch late last year. Register now for FREE unlimited access to Reuters.com RegisterThe company said it has not recorded any breakdowns or complaints from customers about the sensor errors. In March, VinFast said it would build a production plant in North Carolina with an initial projected capacity of 150,000 EVs a year. Register now for FREE unlimited access to Reuters.com RegisterReporting by Phuong Nguyen Editing by Ros RussellOur Standards: The Thomson Reuters Trust Principles.

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