Reasons Behind VinFast Auto Stock's 30% Plummet and Future Outlook
Friday, 19 April 2024, 17:46
Slowing growth, elusive profits
VinFast Auto makes EVs with hopes of global expansion, including the U.S. market. However, challenges in production costs and intense competition are reflecting in its financials.
Financial struggles
- In Q1 2024, VinFast delivered 9,700 EVs, down from the previous quarter.
- Revenue was $300 million, but the company faced a gross loss of $150 million.
- Operating loss hit $422 million on just $300 million in revenue.
Investors should steer clear of VinFast Auto stock due to its poor financial health, significant losses, and bleak future prospects.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.