What's Going On With VinFast Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
VinFast Auto Ltd. (NASDAQ: VFS) shares are trading slightly lower premarket as the company considers postponing its $4 billion factory in North Carolina due to challenges in appealing to American consumers. The factory, initially planned for completion in July 2024, was already delayed to 2025 and may face further delays. VinFast sold fewer than 1,000 cars in North America last year and is currently reviewing all aspects of the construction process.
May 29, 2024 | 10:51 am
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VinFast Auto Ltd. (NASDAQ: VFS) is considering postponing its $4 billion factory in North Carolina due to challenges in appealing to American consumers. This potential delay follows an earlier postponement to 2025 and could impact the company's ability to capitalize on EV subsidies and market growth in the US.
The potential delay of the $4 billion factory in North Carolina is significant as it affects VinFast's ability to expand in the US market and leverage EV subsidies. The news has already caused a premarket dip in VFS shares, indicating investor concern.
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