Latest news with #VinFastAuto
Yahoo
2 days ago
- Automotive
- Yahoo
VinFast begins taking BEV orders in India
VinFast Auto India, the Indian subsidiary of Vietnamese carmaker VinFast Auto, announced that it has begun taking orders for its VF6 and VF7 battery-powered SUVs ahead of their official market launch in August. These models will be assembled locally at the company's newly-built plant in Thoothukudi, Tamil Nadu State, when it becomes operational in the coming weeks. Customers can now make reservations for the VF6 and VF7, which were unveiled locally at the Bharat Mobility Global Expo in Delhi in January, either at VinFast showrooms or through the company's official website, with a fully refundable booking amount of INR 21,000 (US$ 245). Pham Sanh Chau, CEO of VinFast Asia, said in a statement: 'We are deeply encouraged by the overwhelming support from Indian consumers at the Bharat Mobility Global Expo. It reaffirmed the country's readiness and enthusiasm for sustainable mobility solutions. The VF6 and VF7 represent our vision of bringing world-class EVs tailored to local needs, and we're confident that Indian customers will find these models not only competitive, but truly inspiring.' VinFast confirmed that it has signed agreements with 13 local dealers to establish an initial 32 sales, service, and spare parts (3S) outlets in 27 cities across the country. The company has also signed partnership agreements with local companies including RoadGrid, myTVS, and Global Assure to establish a nationwide charging and after-sales service network. The company confirmed that these 'strategic collaborations will offer real-time charging access, AI-driven diagnostics, and integrated digital platforms to support VinFast's fast-growing customer base and EV infrastructure.' VinFast has also signed a partnership agreement with BatX Energies, an Indian battery recycling company, to repurpose or recover rare metals from spent batteries. "VinFast begins taking BEV orders in India" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
7 days ago
- Automotive
- Yahoo
VinFast issues new bonds worth US96m
Vietnamese battery electric vehicle (BEV) manufacturer, VinFast Auto, announced it successfully issued VNĐ 2.5 trillion (US$ 96 million) in bonds through its VIF12502 bond series, as the automaker continues to strengthen its presence in global markets. The Hanoi Stock Exchange (HNX) confirmed that the company recently issued a total of 25,000 bonds, each with a face value of VNĐ 100 million, strengthening the company's balance sheet as it prioritizes expanding in markets in Asia in the short term. The non-convertible bonds mature on 30th June 2028 and were issued by a payment guarantee backed by parent company VinGroup's assets. In May of this year, VinFast repurchased just over VNĐ 2 trillion worth of three-year bonds from previous issuances, which carried an annual interest rate of 9.3% and were due to mature at the end of that month. VinFast reported a net loss of VNĐ 31.9 trillion in 2024, which widened significantly from the VNĐ 18.3 trillion loss it reported in 2023, as the company brought new products to market, built a new plant in Vietnam, and continued to expand its presence in Asia. The automaker's cumulative losses stood at almost VNĐ 130 trillion at the end of 2024, while total liabilities exceeded VNĐ 202 trillion, according to local reports. "VinFast issues new bonds worth US96m" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
14-06-2025
- Automotive
- Yahoo
VinFast Delivers Over 11,000 EVs in Vietnam in May 2025
VinFast Auto Ltd. (NASDAQ:VFS) is one of the 8 Biggest EV Stocks to Watch in 2025. It reported that 11,496 electric vehicles had been delivered to Vietnam in May 2025, bringing its domestic year-to-date total to 56,187 units. A technician connecting an EV battery to the Grid Integrated Vehicle platform. Sales in May were led by the VF 5 (4,232 units) and followed by the VF 3 (3,950 units). In addition, there were 1,393 VF 6 and 773 VF 7 vehicles, while the larger SUVs VF 8 and VF 9 experienced growth. The overall volume was nevertheless supported by the business-oriented Herio Green and Nerio Green models. The VF 3 mini SUV was introduced in late 2024 and became VinFast Auto Ltd. (NASDAQ:VFS)'s best-selling vehicle in 2025 with 19,416 units delivered. Urban shoppers who are younger are particularly drawn to its youthful and compact style. The price and efficiency of the VF 5, an A-segment EV, make it a popular choice for people, young families, and ride-hailing services. VinFast Auto Ltd. (NASDAQ:VFS)'s competitive position in Vietnam's expanding electric vehicle market is shown by its product variety throughout the small, midsize, and business EV areas. While we acknowledge the potential of VFS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-06-2025
- Automotive
- Yahoo
VinFast Auto Ltd (VFS) Q1 2025 Earnings Call Highlights: Record Deliveries Amid Financial Challenges
Net Revenue: USD657 million, a 150% increase year-over-year. Cost of Goods Sold: USD888 million, a 113% increase year-over-year. Gross Margin: Minus 35%, improved from minus 59% last year. SG&A Expenses: USD51 million, a 23% increase year-over-year. R&D Expenses: USD81 million, down 22% year-over-year. EBITDA: Minus USD396 million, with an EBITDA margin of minus 60%. Net Loss: Minus USD712 million, with a net loss margin of minus 109%. CapEx: USD147 million, down 24% year-over-year. Operating Cash Flow: Minus USD607 million. Liquidity: USD2.4 billion, including loans and grants. EV Deliveries: 36,330 vehicles, a 296% increase year-over-year. Two-Wheeler Deliveries: 44,904 units, a 473% increase year-over-year. Warning! GuruFocus has detected 4 Warning Signs with VFS. Release Date: June 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. VinFast Auto Ltd (NASDAQ:VFS) reported a significant increase in vehicle deliveries, with a 296% year-over-year growth in electric vehicle deliveries for Q1 2025. The company achieved a notable improvement in gross margin, moving from minus 59% in the same period last year to minus 35% in Q1 2025. VinFast is expanding its market presence in Southeast Asia, with strong growth in Vietnam and strategic partnerships in Indonesia and the Philippines. The company is investing in new vehicle platforms and E/E architecture to drive cost efficiencies and improve product offerings. VinFast has secured substantial financial support, with liquidity standing at approximately USD2.4 billion, including loans and grants from Vingroup and its founder. Despite improvements, VinFast Auto Ltd (NASDAQ:VFS) reported a net loss of USD712 million for Q1 2025, highlighting ongoing financial challenges. The company is facing a decline in quarter-over-quarter vehicle deliveries, with a 32% drop in electric vehicle deliveries compared to the previous quarter. VinFast is closing direct-to-consumer showrooms in North America and Europe, indicating potential challenges in these markets. The company recorded a USD20 million impairment charge related to the closure of showrooms, with expectations of additional charges in the coming quarters. VinFast's cost of goods sold remains high, at 135% of revenue for the quarter, indicating ongoing pressure on profitability. Q: Can you provide the timeline for the new factories in Vietnam, India, and Indonesia, and their impact on production capacity? A: All facilities in Asia are expected to start operations this year. The India factory will open in July, followed by Hai Phong and then Indonesia. These facilities will focus on more affordable models, while the existing Vietnam facility will handle high-end models. Q: What are the key catalysts for VinFast's growth in the coming years? A: VinFast is focusing on scaling operations, accelerating product development, and executing cost optimization. We aim to double vehicle deliveries in 2025 and maintain momentum into 2026, driven by deeper market penetration and new CKD manufacturing facilities. Our next-generation products will be more cost-effective, and 2025 is a foundational investment year for our platforms and zonal architecture. Q: Could you elaborate on the decision to pivot into the bus market and the expected timeline for bus deliveries? A: We have started delivering buses in Vietnam and expect to deliver around 1,000 this year. We are expanding into other markets like Indonesia, Europe, the Middle East, and the US, gradually capturing growth in electric bus penetration. Q: What is the expected trajectory of average selling prices (ASPs) for the rest of the year? A: The ASP for Q1 2025 was around USD15,000, similar to Q4 2024. For the full year 2025, ASP is likely to remain under USD20,000, with smaller models like VF 3 and VF 5 contributing significantly to deliveries. Q: Can you share more details on the new vehicle platform and E/E architecture? A: Our next-generation vehicle platform focuses on cost efficiency, commonality, and modularity. The new E/E architecture reduces wiring complexity and enhances software scalability. We are also redesigning top hats to align with the platform, reducing costs and improving manufacturing efficiency. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
09-06-2025
- Automotive
- Bloomberg
EV Maker VinFast's Rising Revenue Fails to Ease Widening Loss
VinFast Auto Ltd. 's growing revenue didn't allay a widening loss in the first quarter as the Vietnamese EV maker faced rising costs tied to its global expansion plans. The company reported a net loss of $712.4 million in the first quarter, a 20% increase from a year ago, it said in an exchange filing. While revenue rose about 150% to $656.5 million during the same period, it wasn't enough to offset increasing costs of sales and operations.
