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Retail Asia07/02/2024

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VinFast is recalling 5,912 VF 5 Plus electric vehicles manufactured last year to fix the issue of headlights turning off when the left turn signal is switched on. The company said the headlights in some VF 5 Plus cars, the smallest in its EV lineup, could turn off when the car is traveling at 50-55 […]

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Retail Asia08/11/2023

Vietnam’s first electric vehicle (EV) maker VinFast plans to build a plant with an investment capital of 18.6 trillion Rp (US$1.2 billion) in Indonesia, according to Presidential Chief of Staff of Indonesia Moeldoko. Moeldoko told a press on Nov. 6 that the construction will begin as soon as possible. He, however, did not reveal further […]

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Retail Asia06/10/2023

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Vietnamese electric car maker VinFast said on Thursday its third-quarter revenue more than doubled with the largest share of its sales going to an affiliate company owned by its founder. About 60% of VinFast’s deliveries, or more than 6,000 vehicles, went to Green SM (GSM), a Vietnam-based taxi operator and leasing provider 95% owned by […]

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Retail Asia16/08/2023

VinFast has become the third most valuable electric vehicle maker behind Tesla and BYD with a market cap of US$85 billion. Its shares listed on the U.S.’s Nasdaq stock exchange Tuesday at $22 and closed at over $37 billion. VinFast’s market cap is higher than all EV startups in the U.S. combined. It also exceeds that […]

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Retail Asia11/08/2023

Vietnamese electric vehicle maker VinFast said it expects to start trading on the U.S. Nasdaq as soon as next week after its merger into a special purchase acquisition company (SPAC) was approved on Thursday. On Thursday, shareholders of Hong Kong-based Black Spade Acquisition, a blank-check company, voted to approve the merger with VinFast. VinFast, in […]

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Retail Asia19/07/2023

VinFast, the subsidiary automaker of Vietnamese conglomerate Vingroup, has announced it will hold a groundbreaking ceremony of its electric vehicle (EV) factory in North Carolina, the U.S., on July 28. This will be the first EV manufacturing facility in the state and help contribute to the supply of this kind of vehicles in North America, […]

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Retail Asia26/05/2023

Vietnamese electric vehicle (EV) maker VinFast said it is recalling all of the first batch of vehicles it shipped to the United States last year following a safety warning issued by U.S. authorities. The move came after the U.S. National Highway Traffic Safety Administration (NHTSA) said 999 of VinFast’s VF 8 vehicles suffered a software […]

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Retail Asia17/04/2023

VinFast, a member of Vietnamese private conglomerate Vingroup on April 15 announced that it would export 1,800 VF 8 electric cars to the U.S. and Canada. The cars is expected to depart in the next few days, announced VinFast. As planned, the cars will be sold in the U.S. in May and in Canada in […]

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Retail Asia26/03/2023

Vietnamese carmaker VinFast said on Thursday it will begin delivering its new electric sport utility vehicles (SUVs) to local customers this week and targets overseas deliveries in the coming months. VinFast, which began operations in 2019, is gearing up to expand in the United States, where it hopes to compete with legacy automakers with its […]

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Retail Asia08/02/2023

Vietnamese electric vehicle maker VinFast is cutting its workforce in the United States, the company said on Monday, amid a restructuring in its major overseas market as the startup grapples with a stalled shipment of its first cars and prepares for a potential stock listing. The Vietnamese company, a subsidiary of conglomerate Vingroup JSC (VIC.HM), […]

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Retail Asia07/12/2022

Vietnam’s electric-vehicle maker VinFast said on Tuesday it has filed for an initial public offering (IPO) in the United States to list on the Nasdaq under ticker symbol “VFS” to fund its expansion with a planned plant in North Carolina. VinFast, which began operations in 2019, is gearing up to expand in the U.S. market, […]

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Retail Asia25/11/2022

VinFast had shipped its first batch of 999 cars to the U.S., capping a five-year bid to develop an auto production hub in Vietnam for markets in North America and Europe. The company said that the first cars are expected to be handed over to customers by the end of December. VinFast Chief Executive Le […]

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Retail Asia20/10/2022

VinFast plans to set up headquarters in Germany, France and the Netherlands as it eyes a successful foray into key European markets for its electric cars. But it is unclear when the Frankfurt, Paris and Amsterdam offices will open. The company is set to open its first flagship store in Germany’s Cologne next month and […]

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Retail Asia19/09/2022

Delivery company Ahamove has partnered with automaker VinFast to launch AhaFast, the first delivery service in Vietnam to use only electric bikes. AhaFast began operation Thursday in Da Nang City with 100 electric Feliz S motorbikes provided by VinFast. The electric bike service will be expanded to Hanoi, Ho Chi Minh City, Hai Phong and […]

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Retail Asia18/07/2022

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Automaker VinFast has stopped accepting new orders for gasoline-powered cars four months earlier than announced as it seeks to become a major global player in electronic vehicles. It has received a huge number of orders for its Lux SUV and sedan and Fadil hatchback, and plans to keep the production line going until it fulfills […]

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Retail Asia11/04/2022

The chairman of Vietnam’s Vingroup conglomerate said on Saturday that the company’s auto unit, VinFast, would seek financing from the U.S. government to support its expansion with a planned plant in North Carolina. “It is also one of our financing options, but we need to prove to them that we are qualified,” Vingroup Chairman Pham […]

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Retail Asia31/03/2022

Automaker VinFast has signed a deal with North Carolina state in the U.S. to build a $2-billion plant to make electric buses, cars, and auto batteries. It is set to finish by July 2024, when it will have a capacity of 150,000 units a year, VinFast said in a statement Wednesday. Investment in the plant […]

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Retail Asia10/01/2022

Vietnam’s VinFast plans to build electric vehicle battery cells and packs in a new U.S. manufacturing complex, its global chief executive told Reuters, as the company pledged to transform itself into an all-electric automaker by the end of this year. VinFast, part of Vingroup JSC, the largest conglomerate in the country, became the country’s first […]

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Retail Asia18/11/2021

VinFast on Wednesday announced its U.S. headquarters will be located in Los Angeles, California, affirming its goal to become a global automaker spearheaded by electric vehicles. The company’s U.S. headquarters is located in the Playa Vista area – a neighborhood known as “Silicon Beach” and packed with tech firms in Los Angeles. “We are so […]

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Retail Asia05/11/2021

VinFast said Friday it will make over $200 million in capital investments and place its U.S. headquarter in California as part of its plan to expand operation in North America. VinFast, the automobile arm of Vietnam’s largest conglomerate Vingroup, became the country’s first fully-fledged domestic car manufacturer when its gasoline-powered models built under its own […]

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