A Little Good News for VinFast Investors
Few electric vehicle (EV) start-ups are as intriguing as VinFast Auto (NASDAQ: VFS), which is trying to disrupt the EV market all the way from Vietnam. It's tough enough to break into the EV industry from the U.S., and to do it from the outside seems even more daunting. But VinFast has a few things going for it, and investors just got some good news. Let's dive in.
Most investors likely haven't heard of VinFast Auto before -- and for good reason. Before making a small name by trying to break into the U.S. EV market, it was busy dominating its home Vietnamese market with electric scooters, cars, and buses.
Its Hai Phong facility is state of the art and can produce up to 300,000 units, many of which it hopes to ship to the U.S. market, especially SUVs. It has a global production list of seven EV models and one pickup concept, and it has the financial backing of its parent company Vingroup, which has invested billions in the young EV maker.
Source Fool.com
