VINFAST TO INTRODUCE NEW EV CONCEPT AND TECHNOLOGY AT CES 2024

Rhea-AI Summary

VinFast Auto (Nasdaq: VFS) will participate in CES 2024, introducing new EV concept and mini eSUV VF 3 model, DrgnFly electric bike, and all-electric VF 9 full-size SUV with new streaming service. The company aims to expand its electric vehicle lineup, showcasing commitment to sustainable mobility and EV accessibility.

LAS VEGAS, Dec. 26, 2023 /PRNewswire/ -- VinFast Auto (Nasdaq: VFS) announces its participation in CES 2024, one of the most powerful tech events in the world, taking place from January 9 - 12, 2024 at the Las Vegas Convention Center. Underpinned by the message "Venture Beyond", VinFast will introduce its new EV concept and mini eSUV VF 3 model, the DrgnFly electric bike, with further vehicle and technology experience.

At CES 2024, for the first time, VinFast will introduce its latest electric vehicle concept and the mini eSUV VF 3 to global customers. The launch of two new models continues to expand VinFast's electric vehicle EV lineup, further solidifying its commitment to sustainable mobility and EV accessibility.

VinFast will also display its all-electric VF 9 full-size SUV which incorporates a new streaming service into the vehicle, providing CES 2024 attendees with a unique firsthand in-car experience of the new technology.

In addition, VinFast will also introduce its electric bikes, DrgnFly, reinforcing the company's commitment to offering a holistic EV ecosystem to global customers, as well as showcasing its rapid research and development capabilities since the product was first introduced at CES 2023. VinFast's electric bikes will also be available for test drives.

Ms. Tran Mai Hoa, VinFast Global Deputy CEO of Sales and Marketing shared:   "CES is a highly influential consumer technology exhibition in technology and particularly in the EV industry. Our presence at CES 2024 affirms our unwavering commitment to shaping the future of sustainable transportation, and we are excited to showcase the groundbreaking innovations that will further propel us towards this ambitious goal."

VinFast's press conference at CES will take place at 10:15 AM PT, on January 9 at booth 6417, West Hall, at the Las Vegas Exhibition Center. The show stand will also be open to show attendees between January 9-12.  

About VinFast

VinFast - a member of Vingroup – envisions driving the advancement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90 percent automation in Hai Phong, Vietnam.

Strongly committed to the mission of a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.com.

Forward-Looking Statements

Forward-looking statements in this announcement, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. These statements include statements regarding our future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of VinFast, market size and growth opportunities, competitive position and technological and market trends and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "goal," "objective," "seeks," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the effect of the consummation of the business combination and the public listing of the Company's securities on its business relationships, performance, financial condition and business generally, (ii) the risk that the Company's securities may experience a material price decline and volatility in the price of such securities due to a variety of factors, (iii) the adverse impact of any legal proceedings and regulatory inquiries and investigations on the Company's business, (iv) the Company's potential inability to maintain the listing of its securities on Nasdaq, (v) the risk associated with the Company's limited operating history, (vi) the ability of the Company to achieve profitability, positive cash flows from operating activities and a net working capital surplus, (vii) the ability of the Company to fund its capital requirements through additional debt and equity financing under commercially reasonable terms and the risk of shareholding dilution as a result of additional capital raising, if applicable, (viii) risks associated with being a new entrant in the EV industry, (ix) the risks of the Company's brand, reputation, public credibility and consumer confidence in its business being harmed by negative publicity, (x) the Company's ability to successfully introduce and market new products and services, (xi) competition in the automotive industry, (xii) the Company's ability to adequately control the costs associated with its operations, (xiii) the ability of the Company to obtain components and raw materials according to schedule at acceptable prices, quality and volumes acceptable from its suppliers, (xiv) the Company's ability to maintain relationships with existing suppliers who are critical and necessary to the output and production of its vehicles and to create relationships with new suppliers, (xv) the Company's ability to establish manufacturing facilities outside of Vietnam and expand capacity in a timely manner and within budget, (xvi) the risk that the Company's actual vehicle sales and revenue could differ materially from expected levels based on the number of reservations received, (xvii) the demand for, and consumers' willingness to adopt, EVs, (xiii) the availability and accessibility of EV charging stations or related infrastructure, (xix) the unavailability, reduction or elimination of government and economic incentives or government policies which are favorable for EV manufacturers and buyers, (xx) failure to maintain an effective system of internal control over financial reporting and to accurately and timely report the Company's financial condition, results of operations or cash flows, (xxi) battery pack failures in the Company or its competitor's EVs, (xxii) failure of the Company's business partners to deliver their services, (xxiii) errors, bugs, vulnerabilities, design defects or other issues related to technology used or involved in the Company's EVs or operations, (xxiv) the risk that the Company's research and development efforts may not yield expected results, (xxv) risks associated with autonomous driving technologies, (xxvi) product recalls that the Company may be required to make, (xxvii) the ability of the Company's controlling shareholder to control and exert significant influence on the Company, (xxiii) the Company's reliance on financial and other support from Vingroup and its affiliates and the close association between the Company and Vingroup and its affiliates, (xxix) conflicts of interests with or any events impacting the reputation of Vingroup affiliates or unfavorable market conditions or adverse business operations of Vingroup and Vingroup affiliates and (xxx) other risks discussed in our reports filed or furnished to the Securities and Exchange Commission.

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date of this announcement. VinFast does not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If VinFast updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. The inclusion of any statement in this announcement does not constitute an admission by VinFast or any other person that the events or circumstances described in such statement are material. Undue reliance should not be placed upon the forward-looking statements.

 

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SOURCE Vinfast Auto LLC

FAQ

What is VinFast Auto's ticker symbol?

VinFast Auto's ticker symbol is VFS on the Nasdaq stock exchange.

What will VinFast Auto introduce at CES 2024?

VinFast Auto will introduce its new EV concept, mini eSUV VF 3 model, and DrgnFly electric bike, as well as the all-electric VF 9 full-size SUV with a new streaming service.

When and where will VinFast Auto's press conference at CES 2024 take place?

VinFast Auto's press conference at CES 2024 will take place at 10:15 AM PT on January 9 at booth 6417, West Hall, Las Vegas Exhibition Center.

Who will be speaking at VinFast Auto's press conference at CES 2024?

Ms. Tran Mai Hoa, VinFast Global Deputy CEO of Sales and Marketing, will be speaking at the press conference.

What is the message underlying VinFast Auto's participation in CES 2024?

The message underlying VinFast Auto's participation is 'Venture Beyond', emphasizing its commitment to shaping the future of sustainable transportation.

What is the purpose of VinFast Auto's participation in CES 2024?

The purpose is to showcase groundbreaking innovations in the EV industry and reinforce the company's commitment to offering a holistic EV ecosystem to global customers.