Latest news with #Vietnam-based
Barnama
3 days ago
- Business
- Barnama
AM Best Assigns Stable Outlook To Vietnam's Military Insurance Corporation
BUSINESS KUALA LUMPUR, July 22 (Bernama) -- Global credit rating agency, AM Best has assigned a financial strength rating of B++ (Good), a long-term issuer credit rating of 'bbb' (Good) and a Vietnam National Scale Rating (NSR) of (Exceptional) to Military Insurance Corporation (MIC). The outlook assigned to these credit ratings (ratings) is stable, reflecting Vietnam-based MIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. AM Best in a statement said the ratings also factored in a neutral impact from the company's ultimate parent, Military Commercial Joint Stock Bank (MB). As measured by Best's Capital Adequacy Ratio, MIC's balance sheet strength assessment is underpinned by the strongest level of risk-adjusted capitalisation. It benefits from good financial flexibility, with a demonstrated track record of capital injections over the last 10 years. The company's track record of robust internal capital generation is also viewed to be supportive of capital requirements arising from planned business growth, in addition to having a conservative investment strategy, with the majority of investments held in cash, term deposits and fixed-income securities. AM Best considers MIC's operating performance to be satisfactory, with an average return on equity of 11.2 percent over five years and a combined ratio of 98.5 percent from 2020 to 2024, while its steady income from term deposits and bonds plays a key role in its total earnings. However, the company posted an underwriting loss last year, mainly driven by Typhoon Yagi and other one-off factors, as it also reported a return to underwriting profitability in the first quarter of 2025. Prospective business expansion in wholesale lines is expected to support an improvement in overall results. Furthermore, the credit rating agency assesses MIC's business profile as neutral. The company ranked fourth by gross premiums written in Vietnam's non-life insurance market, with approximately 6.3 per cent market share in 2024. -- BERNAMA
Time of India
15-07-2025
- Automotive
- Time of India
Tesla begins India journey in Mumbai; check full price list of Model Y
Tech entrepreneur Elon Musk 's Tesla is now selling its Model Y vehicles in India, starting at around $69,770 (₹60 lakh), according to its website on Tuesday, as the electric vehicle maker prepares to open its first showroom in Mumbai, the country's financial hub. India is currently the world's third-largest automobile market, though electric vehicles still account for only a small share. Concerns over the availability of charging infrastructure continue to discourage even wealthy buyers from choosing electric cars. Also Read: Tesla's Rs 60 lakh+ per car India entry hides a plan behind showroom glass by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Average Cost To Rent A Private Jet May Surprise You (View Prices) Private Jet I Search Ads Learn More Undo As Tesla prepares to take on India's crowded roads, which remain dominated by diesel and petrol-powered vehicles, it will primarily be competing in the premium electric vehicle segment against German carmakers such as BMW and Mercedes-Benz. Among Indian manufacturers, Tata Motors and Mahindra are the most active in the mass-market electric vehicle space. Live Events Security was visible outside the Tesla showroom, where the company's logo appeared in black on a plain white wall. The Model Y was partly visible through the glass of the gated office compound on Tuesday, covered in black and grey fabric. Strict access controls meant only a few people gathered near the location, with limited interest from the public or fans. Musk has had an interest in entering the Indian market for some time. India is now the world's most populous nation, and wealthy consumers are spending heavily on everything from flats and watches to jewellery and even bathrooms. India has set a target of increasing the share of electric vehicles in its domestic car market to 30% by 2030, up from the current 4%. It has offered tax reductions to foreign carmakers willing to commit to local manufacturing. These incentives have not strongly attracted Musk, even though the policy was partly aimed at bringing Tesla into the country. Tesla's debut comes just as Vietnam-based electric carmaker Vinfast begins pre-bookings in India for its VF7 and VF6 electric SUVs. Tesla's Model Y rear-wheel drive is priced at ₹60 lakh ($70,000) for upfront payment, while the long-range rear-wheel drive version is listed at ₹68 lakh ($79,000). In comparison, the base Model Y costs $44,990 in the US, 263,500 yuan ($36,700) in China, and €45,970 ($53,700) in Germany.
News18
13-07-2025
- Automotive
- News18
VinFast VF 6, VF 7 Pre-booking To Begin From July 15, Check Delivery Details
Last Updated: The report says the brand will kickstart delivering the vehicle in 12 states. After seeing the response, it will expand the business strategy further. The Vietnam-based four-wheeler electric wheeler maker VinFast has finally spread its roots in the Indian market. The company has introduce two EVs in the country named VF 6 and VF 7, and it is all set to start accepting the official pre-booking on July 15, 2025. The report says the brand will kickstart delivering the vehicle in 12 states. After seeing the response, it will expand the business strategy, capturing the mass market in the segment. Those who are interested in purchasing the EVs can visit an authorised dealership. Here's List Of Cities With Dealership The company will have 32 dealerships across 27 cities, and aims to set up more than 34 dealerships by the end of CY 2025. The list includes Gurgaon, Delhi, Chennai, Noida, Hyderabad, Bengaluru, Jaipur, Pune, Kolkata, Ahmedabad, Cochin, Trivandrum, Bhubaneshwar, Chandigarh, Lucknow, Surat, Coimbatore, Visakhapatnam, Calicut, Vijayawada, Shimla, Jhansi, Agra, Gwalior, Baroda, Vapi and Goa. Benefits As per the details shared by the brand, all the touchpoints will have showrooms, complemented by service workshops and a spare parts department. This will allow the customers to have a seamless after-sales service. Apart from this, VinFast has tied up with Global Assure for 24/7 roadside assistance to make it more convenient so that they can go anywhere hassle-free. view comments First Published: July 13, 2025, 15:48 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Hindu
12-07-2025
- Automotive
- The Hindu
EV maker VinFast signs pacts with 13 dealer groups; aims 35 dealerships in India by 2025-end
VinFast Auto India, a subsidiary of Vietnam-based electric vehicle maker VinFast, has signed agreements with 13 dealer groups for opening 32 dealerships across 27 cities, a statement said on Saturday (July 12, 2025). VinFast, which is gearing up to launch its electric vehicles in the Indian market, aims to establish 35 dealerships across the country by the end of 2025, according to the statement. These collaborations underscore VinFast's commitment to establishing a robust 3S (sales, service, spares) network and laying the groundwork for the upcoming pre-booking of the VF 6 and the VF 7 models on July 15, it said. The agreements are part of VinFast's plan to expand its footprint in the country. The initial set of dealerships will be established in key urban and emerging EV markets, including Delhi, Gurugram, Noida, Chennai, Bengaluru, Hyderabad, Pune, Jaipur, Ahmedabad, Kolkata, Cochin, Bhubaneswar, Thiruvananthapuram, Chandigarh, and Lucknow. These cities have been strategically selected based on their growing EV adoption, infrastructure readiness, and strong demand potential. VinFast Asia CEO Pham Sanh Chau said, "The partnership reinforces our focus on delivering an elevated EV experience backed by reliability, customer trust, and service excellence. As we prepare to bring our electric SUVs to Indian roads, we are focused on ensuring that customers across key cities have seamless access to VinFast's world-class products and support infrastructure."
Time of India
12-07-2025
- Automotive
- Time of India
VinFast India expansion: EV maker signs 13 dealer pacts, targets 35 showrooms by 2025-end across 27 cities
AI image VinFast Auto India, the domestic arm of Vietnam-based electric vehicle manufacturer VinFast, on Saturday announced that it has signed agreements with 13 dealer groups to open 32 dealerships across 27 cities. The company aims to expand this footprint to 35 dealerships by the end of 2025, according to a statement. The move is part of VinFast's broader strategy to establish a robust pan-India presence as it prepares to launch its electric SUVs in the Indian market, PTI reported. The company said these partnerships will help lay the foundation for a comprehensive 3S network — comprising sales, service, and spare parts — ahead of the upcoming pre-booking of its VF 6 and VF 7 models on July 15. 'These collaborations underscore VinFast's commitment to establishing a strong and responsive EV retail and support infrastructure in India,' the company said. As per the company's plans, the first batch of showrooms will come up in key urban and emerging EV hubs including Delhi, Gurugram, Noida, Chennai, Bengaluru, Hyderabad, Pune, Jaipur, Ahmedabad, Kolkata, Kochi, Bhubaneswar, Thiruvananthapuram, Chandigarh, and Lucknow. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Das entspannendste Spiel des Jahres 2025. Ohne Installation Taonga: Die Inselfarm Jetzt spielen Undo 'These cities have been strategically selected based on their growing EV adoption, supportive infrastructure development, and strong demand potential for new-energy mobility solutions,' the company added. VinFast Asia CEO Pham Sanh Chau said the tie-ups represent a major milestone for the company's India entry, reinforcing its long-term commitment to the market. 'The partnership reinforces our focus on delivering an elevated EV experience backed by reliability, customer trust, and service excellence. As we prepare to bring our electric SUVs to Indian roads, we are focused on ensuring that customers across key cities have seamless access to VinFast's world-class products and support infrastructure,' Chau said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
