Streetbeat News

VFS

VinFast Auto Ltd.

Industry

Auto - Manufacturers

VinFast Auto Ltd., an automotive manufacturer, engages in Automobiles and E-scooter related business in Vietnam and the United States. The company operates through Automobiles, E-scooter, Spare Parts, and Aftermarket Services segments. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses. The E-scooter segment provides design, development, manufacturing, and sales of e-scooters. The Spare Parts, and Aftermarket Services segment engages in sale of spare parts and aftermarket services for automobiles and e-scooters. VinFast Auto Ltd. is based in Hai Phong City, Vietnam. The company operates as a subsidiary of Vingroup Joint Stock Company.

Open

3.90

Mkt cap

9.4B

Volume

1.1M

High

4.10

P/E Ratio

-3.78

52-wk high

9.30

Low

3.80

Div yield

N/A

52-wk low

2.25

Pham Nhat Vuong, founder of VinFast Auto Ltd (NASDAQ:VFS), launched V-Green, an EV charging venture to support VinFast vehicles globally. V-Green aims to expand charging infrastructure in key markets, manage VinFast's network in Vietnam, and may extend services to other EV manufacturers after five years. An investment of $404 million over two years is planned to enhance infrastructure. Vuong's previous venture, Green SM, significantly contributed to VinFast's sales in 2023. VFS shares rose 0.80% to $5.06 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 18, 2024 | 1:29 pm

Mixed sentiment in the EV sector was influenced by Tesla's lowered delivery estimates and broader market concerns. Tesla faces challenges but sees opportunities in India with new EV policies. Fisker's bankruptcy rumors caused a significant stock drop. Rivian received a positive upgrade from Piper Sandler. Polestar announced a price cut for its upcoming SUV. The KraneShares Electric Vehicles ETF saw a slight increase.

Portfolio Pulse from Shanthi Rexaline

March 16, 2024 | 2:42 pm

India reportedly lowers import taxes on select electric vehicles to 15%, a significant reduction from the previous maximum of up to 100%. This policy allows eligible companies to import up to 8,000 EVs annually, priced at $35,000 or higher. Tesla, Inc. (TSLA), BYD Co. (BYDDY), and VinFast Auto Ltd. (VFS) are directly impacted as they compete for entry into the Indian market. Tesla faces challenges with an aging lineup and competition, particularly from BYD, while VinFast is investing $2 billion in a factory in Tamil Nadu, India.

Portfolio Pulse from Nabaparna Bhattacharya

March 15, 2024 | 4:28 pm

VinFast has entered into a partnership with Jospong to distribute its range of electric vehicles, including cars, scooters, bikes, and buses, in Ghana and West Africa. Jospong will also establish a public charging infrastructure to support EV adoption. This move marks VinFast's entry into the African market, aligning with its global expansion strategy and commitment to green transportation.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:28 am

Tesla faced potential Q1 delivery misses and a production halt at its Berlin factory due to suspected arson, impacting its stock. Rivian saw a surge in pre-orders for its new R2 model. Nio is launching a Model Y rival with lower costs. Ford struggles with EV transition, focusing on hybrids. Lucid's price target was halved by RBC. The KraneShares Electric Vehicles ETF fell 3.68% for the week.

Portfolio Pulse from Shanthi Rexaline

March 09, 2024 | 2:16 pm

Electric vehicle stocks saw gains, with Tesla closing above $200 for the first time since mid-February. Key events included Tesla's Roadster update and Model Y price cut reversion, Apple shelving its self-driving car project, Fisker seeking partnerships to stay afloat, Biden's administration blocking Chinese EVs due to security risks, and Canoo's shareholder approval for a reverse stock split. The KraneShares Electric Vehicles ETF also saw a weekly increase.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 2:21 pm

VinFast Auto's stock price increased following Chardan Capital's decision to raise its price target from $11 to $13.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:51 pm

Chardan Capital analyst Brian Dobson has maintained a Buy rating on VinFast Auto (NASDAQ:VFS) and increased the price target from $11 to $13.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:00 pm

This week in the EV sector, bearish sentiment surrounded Tesla, with its stock underperforming due to a double miss in Q3 2023 earnings and price adjustments. Rivian and Lucid faced production challenges and disappointing earnings, while Ford paused F-150 Lightning shipments. Nio is testing humanoid robots for production efficiency, and Volvo plans to cut its stake in Polestar. The KraneShares Electric Vehicles ETF saw a slight decline.

Portfolio Pulse from Shanthi Rexaline

February 24, 2024 | 3:17 pm

Wedbush analyst Daniel Ives reiterates an Outperform rating on VinFast Auto (NASDAQ:VFS) and maintains a $12 price target.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:55 pm

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