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HANOI (Reuters) -Vietnamese electric vehicle (EV) maker VinFast on Thursday said its fourth-quarter net loss deepened 3.4% from the previous three months but it aims to nearly triple vehicle sales this year as it expands into new markets. It plans to increase deliveries to 100,000 units this year, compared with the almost 35,000 made in 2023, when it missed a 50,000 unit target due to slow EV adoption in some regions and increased price competition. VinFast, which launched U.S. sales in March last year with its VF 8 sport utility vehicle, relies heavily on domestic demand, with around 70% of deliveries going to its affiliate Green SM (GSM), a taxi operator and leasing provider backed by VinFast CEO Pham Nhat Vuong. ....
Vietnamese EV maker VinFast is hoping for a reset with a $20,000 vehicle, unveiled at CES in Las Vegas. With an estimated driving range of 125 miles on a full charge and measuring just 125 inches long, the VF3 would be one of the smallest vehicles in the US market. ....
VinFast Forcast: "This year we plan as the markets recover and as we show more achievements of progress, we will do follow-on transactions . increasing the free float, bringing in many more investors, including long-only investors," Le Thi Thu Thuy, the former CEO and current VinFast chairperson, told Reuters on the sidelines of the CES trade show in Las Vegas. The free float "hopefully would be 10-20% at least," she said. ....