Vingroup, Vietnam’s leading conglomerate, is grappling with increasing financial risks due to the difficulties faced by its electric vehicle (EV) subsidiary, VinFast Auto (NASDAQ:VFS). The EV manufacturer’s financial troubles have been amplified by its dependency on sales to associated companies and a declining global EV market.
What Happened: VinFast’s swift growth has been predominantly driven by sales to firms linked with Vingroup. The lack of retail consumers and a drop in worldwide EV demand have further intensified VinFast’s financial predicaments, reported Reuters.
Over the past three years, VinFast has accumulated losses amounting to $5.7 billion, leading to a 38% drop in Vingroup’s share price since VinFast’s U.S. listing in August. The parent company’s borrowing expenses have also surged.
Between 2017 and 2023, VinFast received $11.4 …
Full story available on Benzinga.com
Vingroup, Vietnam’s leading conglomerate, is grappling with increasing financial risks due to the difficulties faced by its electric vehicle (EV) subsidiary, VinFast Auto (NASDAQ:VFS). The EV manufacturer’s financial troubles have been amplified by its dependency on sales to associated companies and a declining global EV market.
What Happened: VinFast’s swift growth has been predominantly driven by sales to firms linked with Vingroup. The lack of retail consumers and a drop in worldwide EV demand have further intensified VinFast’s financial predicaments, reported Reuters.
Over the past three years, VinFast has accumulated losses amounting to $5.7 billion, leading to a 38% drop in Vingroup’s share price since VinFast’s U.S. listing in August. The parent company’s borrowing expenses have also surged.
Between 2017 and 2023, VinFast received $11.4 …
Full story available on Benzinga.com
Vingroup, Vietnam’s leading conglomerate, is grappling with increasing financial risks due to the difficulties faced by its electric vehicle (EV) subsidiary, VinFast Auto (NASDAQ:VFS). The EV manufacturer’s financial troubles have been amplified by its dependency on sales to associated companies and a declining global EV market.
What Happened: VinFast’s swift growth has been predominantly driven by sales to firms linked with Vingroup. The lack of retail consumers and a drop in worldwide EV demand have further intensified VinFast’s financial predicaments, reported Reuters.
Over the past three years, VinFast has accumulated losses amounting to $5.7 billion, leading to a 38% drop in Vingroup’s share price since VinFast’s U.S. listing in August. The parent company’s borrowing expenses have also surged.
Between 2017 and 2023, VinFast received $11.4 …Full story available on Benzinga.com Read Moreelectric vehicles, Equities, EVs, Jim Chanos, Kaustubh Bagalkote, mobility, News, pham nhat vuong, Short Sellers, TOYOF, TSLA, VFS, VinFast, Vingroup, Markets, TSLA, US88160R1014, TOYOF, VFS, News, Equities, Short Sellers, Markets, Benzinga Markets
