VinFast aims to sell up to 50,000 EVs in 2023 — but it has only hit 23% of its target so far
Publishing timestamp: 2023-09-28 03:03:02
Summary
Vietnamese electric vehicle maker VinFast's plan to deliver 40,000 to 50,000 vehicles in 2023 is deemed "unrealistic" by analysts. The company only delivered 11,315 vehicles in the first half of 2023, with a significant portion sold to a related company. Concerns over demand for VinFast's EVs are raised, especially compared to the sales volumes of competitors like Tesla and XPeng. VinFast's share price has dropped significantly since its IPO, and its U.S. expansion has faced hurdles. Analysts also note that VinFast's models are not competitively priced.
Sentiment: NEGATIVE
Tickers: TSLA, 9868-HK, 9866-HK, XPEV, NIO,
Keywords: asia economy, breaking news: technology, earnings, technology, xpeng inc, vinfast auto ltd, alternative and sustainable energy, autos, business news, tesla inc, nio inc,