VinFast Auto Ltd. Ordinary Shares - VFS STOCK NEWS

Welcome to our dedicated page for VinFast Auto Ltd. Ordinary Shares news (Ticker: VFS), a resource for investors and traders seeking the latest updates and insights on VinFast Auto Ltd. Ordinary Shares stock.

VinFast Auto Ltd. (NASDAQ: VFS) is a trailblazing automotive manufacturer headquartered in Vietnam, focused on creating a green future with its range of premium electric vehicles (EVs). Established as a subsidiary of Vingroup JSC, VinFast is committed to the design, development, and production of electric SUVs, e-scooters, and e-buses. Its product lineup spans various segments, including fully electric A- through E-segment SUVs, making sustainable transportation accessible to a broader consumer base.

VinFast's core business is divided into three main segments:

• Automobiles: This segment encompasses the design, development, manufacturing, and sale of electric cars and buses.
• E-scooters: Focused on the design, development, manufacturing, and sale of electric scooters.
• Spare Parts & Aftermarket Services: This segment includes the sale of spare parts and the provision of aftermarket services for both automobiles and e-scooters.

Recent achievements highlight VinFast's rapid growth and ambition. The company reported a substantial increase in delivery volumes and revenues for the fourth quarter and fiscal year ending December 31, 2023. Key milestones include the launch of the VF 6 in Vietnam and concrete steps to optimize a new business model aimed at expanding market reach. Additionally, VinFast has secured significant equity funding and is actively expanding its North American charging network.

VinFast operates a state-of-the-art automotive manufacturing complex in Hai Phong, Vietnam, which boasts up to 90% automation. The company has recently pivoted to a capital-light distribution model, leveraging partnerships to expand its global footprint swiftly. Notably, VinFast has entered strategic markets such as Indonesia and India, with plans to establish manufacturing facilities outside Vietnam. This expansion is supported by substantial financial backing from Vingroup and Chairman Pham Nhat Vuong.

In its commitment to sustainability, VinFast participated in the Sustainable Trade Forum at COP28, showcasing its efforts to modernize and optimize its supply chain. The company also unveiled its newest EV concepts and expanded its product offerings at renowned events like CES 2024, strengthening its position as a leader in the EV market.

Financially, VinFast has shown strong momentum, with a significant increase in revenues and improved gross margins. The company is focusing on cost-cutting initiatives and optimizing return on capital invested, aiming to achieve profitability and expand its market presence globally.

For more information, visit the official website at www.vinfastauto.us.