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

3.12

Mkt cap

7.7B

Volume

370K

High

3.28

P/E Ratio

-3.22

52-wk high

6.42

Low

3.07

Div yield

N/A

52-wk low

2.25

Shares of auto-related companies are trading lower due to overall market weakness and concerns about a US economic slowdown, which could impact demand.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 3:06 pm

The EV sector faced selling pressure last week amid a broader market downturn. Tesla's stock dipped despite strong sales in China and positive updates on its FSD technology. Uber partnered with BYD to introduce 100,000 new EVs to its platform. Lucid Motors provided an update on its Gravity SUV production. Ford reported a significant increase in EV sales for July. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 3.47% for the week.

Portfolio Pulse from Shanthi Rexaline

August 03, 2024 | 5:30 pm

VinFast Auto Ltd. (NASDAQ: VFS) has launched a new affordable electric mini SUV, the VF 3, in Vietnam, priced at $12,800. The company aims to deliver 20,000 units in 2024 and expand sales to other countries. Despite financial challenges and a declining global EV market, VinFast is pursuing expansion plans, including a new assembly plant in Indonesia and enhancing its presence in Europe. VinFast's market cap surged in August 2023, making it the third-largest automaker globally, behind Tesla Inc. (NASDAQ: TSLA) and Toyota Motor Corp. (NYSE: TM).

Portfolio Pulse from Benzinga Neuro

August 02, 2024 | 9:53 am

VinFast announced it will restate its unaudited financial statements for Q1 Fiscal 2024. The board concluded that the financial statements for the year ended December 2023 and the quarter ended March should no longer be relied upon.

Portfolio Pulse from charles@benzinga.com

July 29, 2024 | 10:15 am

This week saw significant developments in the EV sector, with Tesla's mixed earnings report leading to a stock drop, Rivian's CEO discussing the new R2 platform, GM scaling back its EV goals, Xiaomi ramping up EV production, and Lucid securing a battery material deal. The KraneShares Electric Vehicles and Future Mobility Index ETF also saw a decline.

Portfolio Pulse from Shanthi Rexaline

July 27, 2024 | 3:43 pm

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on VinFast Auto (NASDAQ:VFS) and maintained a price target of $8.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 6:09 pm

The EV sector experienced a significant downturn this week, influenced by broader market trends and specific company developments. Tesla raised prices for its Model S and Model X, while Ford shifted its EV production plans. Hyzon Motors saw a sharp decline due to a stock offering, and BYD expanded its dealership network in Vietnam. Additionally, Donald Trump announced plans to end the EV mandate if elected, which could impact the industry.

Portfolio Pulse from Shanthi Rexaline

July 20, 2024 | 3:22 pm

VinFast Auto Ltd. (NASDAQ:VFS) shares are trading higher in the premarket session after the company debuted its first VF e34 C-SUVs at the Gaikindo Indonesia International Auto Show (GIIAS) 2024. The event marks a significant milestone as the company delivered the vehicles to pioneering customers in Indonesia. The VF e34 features modern design and advanced technology, with flexible sales policies including battery subscription options. VFS shares are up 3.08% to $4.69 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

July 19, 2024 | 12:09 pm

VinFast has delivered its first batch of VF e34 C-SUVs to customers in Indonesia at the Gaikindo Indonesia International Auto Show (GIIAS) 2024. The VF e34 is priced at IDR408,200,000 with battery included and IDR314,000,000 with a battery subscription. The VF 5 is priced at IDR310,000,000 with battery included and IDR241,800,000 with a battery subscription.

Portfolio Pulse from charles@benzinga.com

July 19, 2024 | 9:32 am

BYD Co., Ltd. (OTC:BYDDY) plans to expand its dealership network in Vietnam from 13 to 100 locations by 2026, intensifying competition with local rival VinFast Auto Ltd. (NASDAQ:VFS). BYD will initially offer three models, including the Atto 3, and plans to expand to six models by October. All models will be imported for now, as plans for a local factory have stalled.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2024 | 3:41 pm

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