VinFast will debut at the Vancouver Auto Show with the EV category By Investing.com

VinFast will debut at the Vancouver Auto Show with the EV category By Investing.com


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VANCOUVER – VinFast Auto (NASDAQ: NASDAQ: ), the Vietnamese automaker, is set to participate in the Vancouver International Auto Show (VIAS) 2024, marking its first appearance at the event. The company plans to showcase four electric vehicle (EV) models, the VF (NYSE: ) 6, VF 7, VF 8, and VF 9, each designed to appeal to different customer segments with a combination of cutting-edge technology and advanced systems. driver assistance. .

The company’s presence at VIAS, scheduled from March 19 to March 24 at the Vancouver Convention Center, comes as the electric vehicle market in Vancouver is experiencing increased interest. This interest is fueled by environmental concerns and fuel cost savings, as well as support from the governments of Canada and British Columbia through tax incentives and financial initiatives to promote green transportation.

The VF 6 and VF 7, designed by Torino Design, offer styles that cater to young consumers and families looking for eco-friendly options, as well as young professionals looking for sporty and distinctive vehicles. The VF 8 and VF 9, designed by Pininfarina, represent VinFast’s venture into the luxury segment, promising a combination of beauty, luxury and an intelligent driving experience.

The VinFast booth, located at number 11 in the convention center, will also offer visitors the opportunity to sign up for a test drive of the VF 8, providing first-hand experience with the car’s performance and technology features.

According to Robert Muller, Deputy CEO of VinFast Canada, the company’s participation in VIAS is an important step in introducing its intelligent and advanced electric vehicles to the Canadian market, in line with the growing demand for modern and environmentally friendly transportation options. in Vancouver and beyond.

VinFast, part of Vingroup, was founded in 2017 and operates a highly automated manufacturing plant in Hai Phong, Vietnam. The company’s mission is to advance the global revolution of smart electric vehicles.

The information for this article is based on a press release.

InvestingPro Knowledge

As VinFast Auto (NASDAQ: VFS ) prepares for its debut at the Vancouver International Auto Show, it’s clear that the company is taking a big step into the electric vehicle (EV) market. With four EV models on display, VinFast aims to appeal to a wide range of consumers, from eco-conscious families to luxury seekers. However, what does the financial data say about the company’s performance and market position?

According to the latest data from InvestingPro, VinFast Auto has a market capitalization of $11.64 billion, which positions the company as a prominent player in the Automotive industry. Despite this, the company’s P/E ratio is -5.84, indicating challenges in profitability, as indicated by InvestingPro’s additional Note that analysts do not expect the company to be profitable this year. This is in line with the company’s reported gross profit margin of -46.04% over the past twelve months to Q1 2023, underscoring the struggle to maintain profitability.

InvestingPro notes also reveal that VinFast has been rapidly burning through cash and that short-term liabilities exceed its liquid assets, which could raise concerns about the company’s financial stability in the near term. Additionally, two analysts have revised their earnings downward for the coming period, suggesting there may be challenges ahead that investors should be aware of.

For those considering investing in VinFast, it’s worth noting that the company’s share price has fallen significantly over the past year, with a one-year total gain of -51.13% as of the latest data. While this may indicate a potential buying opportunity for some, it also reflects the market’s current skepticism about the company’s financial prospects.

For more detailed analysis and InvestingPro Tips on VinFast Auto, readers can discover the full knowledge available at https://www.investing.com/pro/VFS. And for those interested in signing up, use the coupon code PRONEWS24 to get an additional 10% off annual or annual Pro and Pro+ subscriptions. There are 15 additional InvestingPro Tips listed in InvestingPro that may provide further guidance on VinFast’s financial health and market position.

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