{"id":48358,"date":"2023-04-27T09:03:22","date_gmt":"2023-04-27T13:03:22","guid":{"rendered":"https:\/\/autosector.com\/?p=48358"},"modified":"2023-04-27T09:03:22","modified_gmt":"2023-04-27T13:03:22","slug":"1139486_2-5b-boost-may-keep-vinfast-moving-despite-ipo-status","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=48358","title":{"rendered":"$2.5B boost may keep Vinfast moving despite IPO status"},"content":{"rendered":"

Vinfast has secured additional funding pledges worth $2.5 billion, the company confirmed Wednesday.<\/p>\n

That may allow it to keep it moving smoothly ahead of its planned U.S. stock-market listing and past that timeframe.<\/p>\n

<\/p>\n

Of the new funding pledges, $1 billion will be provided as a non-refundable grant\u2014the language used by the company\u2014within the next year from Vinfast founder Pham That Vuong, Vietnam’s richest man. Meanwhile the larger Vingroup will contribute $500 million. In addition to that, the company says that it may receive a further $1 billion in the next five years.<\/p>\n

\u201cTo build a national brand that can compete in the international market is particularly difficult, challenging, and even requires sacrificing immediate benefits,” said a representative of the chairman, in a Vinfast statement. “Mr. Pham Nhat Vuong plans to donate some of his personal assets to energize VinFast during the pivotal acceleration period to create a mark of Vietnam in the world\u2019s electric vehicle market.”<\/p>\n

\"Vinfast<\/p>\n

Vinfast VF 8<\/p>\n<\/div>\n

The U.S. initial public offering (IPO) may be further delayed, possibly into next year, according to Reuters<\/a>, which cited two anonymous sources familiar with the matter. Additional funding could support the company’s ambitious expansion plans in the meantime.<\/p>\n

Vinfast started out selling gasoline cars based on older BMW designs in its home market before switching to EVs and setting its sights on the U.S., starting with the VF 8 electric SUV. The first U.S.-bound vehicles<\/a> were shipped out in December, but few have yet been delivered beyond that small initial group of 100 vehicles.<\/p>\n

\"Vinfast<\/p>\n

Vinfast Store<\/p>\n<\/div>\n

In addition to the VF 8, Vinfast has already revealed a wide range of models. It plans to follow up the VF 8 with the three-row VF 9, plus smaller VF 6, VF 7<\/a>, and VF 5 electric SUVs. All vehicles are currently produced in Vietnam, but Vinfast has plans for additional factories in the U.S. and Germany<\/a>. The U.S. factory, located in North Carolina, is slated to start building cars in 2024<\/a>.<\/p>\n

However, an earlier drive of a prototype<\/a> a year ago signaled that the VF 8 had a long way to go. That experience indicated Vinfast may be moving too fast, and might need to focus on refining the VF 8 first before moving on to other models and higher production volumes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vinfast has secured additional funding pledges worth $2.5 billion, the company confirmed Wednesday. That may allow it to keep it moving smoothly ahead of its planned U.S. stock-market listing and past that timeframe. Of the new funding pledges, $1 billion will be provided as a non-refundable grant\u2014the language used by the company\u2014within the next year […]<\/p>\n","protected":false},"author":1,"featured_media":48359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/48358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48358"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/48358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/48359"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48358"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}