Tesla's Vietnamese Rival VinFast Sets Gaze On Indonesia: Report
Portfolio Pulse from Shivani Kumaresan
Vietnamese electric vehicle (EV) manufacturer VinFast Auto Ltd (NASDAQ:VFS) is planning to expand into Southeast Asia, starting with Indonesia. The company is on track to achieve its sales projection for the year of 45,000 to 50,000 vehicles. VinFast is also constructing a $2 billion manufacturing complex in North Carolina and plans factories in Indonesia and India. The company expects to break even by the end of 2024 and achieve profitability post-2025.
October 16, 2023 | 3:06 pm
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VinFast's expansion into Southeast Asia and its construction of manufacturing complexes could potentially boost its sales and profitability in the long term. However, the company's shares are currently down by 11.29%.
VinFast's expansion into Southeast Asia and its construction of manufacturing complexes could potentially increase its market share and profitability in the long term. However, the company's shares are currently down, indicating a negative short-term impact. The company's profitability post-2025 could potentially have a positive impact on its stock price in the long term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100