Vingroup lost USD1 billion last year in manufacturing due to poor sales of VinFast vehicles, EV investments

[lcloo]

Vingroup, the parent company of VinFast, posted a pre-tax loss of around 23.9 trillion Vietnamese dong (around USD1 billion or RM4.4 billion) at its manufacturing segment last year, according to a report by Nikkei.

The loss was attributed to poor sales of internal combustion engine (ICE) cars in Vietname as well as growing investments in the company’s electric vehicle business. Last year, sales of VinFast ICE cars amounted to 35,700 units, which represents a 20% year-on-year increase from 2020. Despite this, the group’s assembly plant in Cat Hai, Hai Phong, which began operations in 2019, is operating well below its capacity of 250,000 vehicles a year.

Vingroup lost USD1 billion last year in manufacturing due to poor sales of VinFast vehicles, EV investments - paultan.org

Vingroup, the parent company of VinFast, posted a pre-tax loss of around 23.9 trillion Vietnamese dong (around USD1 billion or RM4.4 billion) at its manufacturing segment last year, according to a report by Nikkei. The …

paultan.org

 

[Beast]

Vingroup, the parent company of VinFast, posted a pre-tax loss of around 23.9 trillion Vietnamese dong (around USD1 billion or RM4.4 billion) at its manufacturing segment last year, according to a report by Nikkei.

The loss was attributed to poor sales of internal combustion engine (ICE) cars in Vietname as well as growing investments in the company’s electric vehicle business. Last year, sales of VinFast ICE cars amounted to 35,700 units, which represents a 20% year-on-year increase from 2020. Despite this, the group’s assembly plant in Cat Hai, Hai Phong, which began operations in 2019, is operating well below its capacity of 250,000 vehicles a year.

Vingroup lost USD1 billion last year in manufacturing due to poor sales of VinFast vehicles, EV investments - paultan.org

Vingroup, the parent company of VinFast, posted a pre-tax loss of around 23.9 trillion Vietnamese dong (around USD1 billion or RM4.4 billion) at its manufacturing segment last year, according to a report by Nikkei. The …

paultan.org

@Viet

What happen to your supapowa Vinfast?

 

[Han Patriot]

This company is all hype. They do not have the core technology, basically they are car assemblers.

 

[Journeyman]

This company is all hype. They do not have the core technology, basically they are car assemblers.

Car assembler? Vinfast has the Schuler press machine that allow them to produce the car frame and they also produce parts of the engine. Vinfast has just ordered another press line from Agor Arrasate for their electric vehicle line. It sucks that vinfast doesn't bother one single machine from china. Lol

 

[Beast]

Car assembler? Vinfast has the Schuler press machine that allow them to produce the car frame and they also produce parts of the engine. Vinfast has just ordered another press line from Agor Arrasate for their electric vehicle line. It sucks that vinfast doesn't bother one single machine from china. Lol

Yes, Supapowa vinfast lost USD 1 billion after all the hype. Lol..

 

[Han Patriot]

Car assembler? Vinfast has the Schuler press machine that allow them to produce the car frame and they also produce parts of the engine. Vinfast has just ordered another press line from Agor Arrasate for their electric vehicle line. It sucks that vinfast doesn't bother one single machine from china. Lol

Bro metal parts is easy..... Even my mechanic presses his own parts. What about the Ecu, hydraulics? Braking system, suspension, engines? Engine parts like what? The cover? Lop

 

[Journeyman]

@Viet

What happen to your supapowa Vinfast?

2021 is vinfast 2nd year of operation and their sales is 10% of the domestic market Can chinese cars even top 10% of their domestic market after2nd year of.operation?

Bro metal parts is easy..... Even my mechanic presses his own parts. What about the Ecu, hydraulics? Braking system, suspension, engines? Engine parts like what? The cover? Lop

Engine crankshaft

2021 is vinfast 2nd year of operation and their sales is 10% of the domestic market Can chinese cars even top 10% of their domestic market after2nd year of.operation?


Engine crankshaft. Car frame make a huge % of the value of the car. Being able to press the parts is something foreign car companies have never wanted to do in Vietnam until vinfast invest in that schuler press machine.

 

[retaxis]

Vietnamese simply can not compete with chinese vehicles. India, vietnam, nigeria etc vehicles are simply not practical. Save ur money and buy an East Asian vehicle like hongqi, kia or subaru instead.

 

[Song Hong]

Stay tuned. There is no way nations can build car industries from scratch. China Shangqi was not even making anything but licensing foreign technologies, and is always a traitor.

No one can build a car industries without planning first few years of loss. Malaysia Proton loss billions.

I bid Chinese and other members not to get too excited.

 

[Journeyman]

Vingroup, the parent company of VinFast, posted a pre-tax loss of around 23.9 trillion Vietnamese dong (around USD1 billion or RM4.4 billion) at its manufacturing segment last year, according to a report by Nikkei.

The loss was attributed to poor sales of internal combustion engine (ICE) cars in Vietname as well as growing investments in the company’s electric vehicle business. Last year, sales of VinFast ICE cars amounted to 35,700 units, which represents a 20% year-on-year increase from 2020. Despite this, the group’s assembly plant in Cat Hai, Hai Phong, which began operations in 2019, is operating well below its capacity of 250,000 vehicles a year.

Vingroup lost USD1 billion last year in manufacturing due to poor sales of VinFast vehicles, EV investments - paultan.org

Vingroup, the parent company of VinFast, posted a pre-tax loss of around 23.9 trillion Vietnamese dong (around USD1 billion or RM4.4 billion) at its manufacturing segment last year, according to a report by Nikkei. The …

paultan.org

Thanks for your concern. Vinfast is expected to lose 5 billion in the first 5 years of operation due to massive capital investments. Just have started building their 2nd plant in vietnam which is like 6 times larger than their.1st plan in hai phong

 

[Beast]

2021 is vinfast 2nd year of operation and their sales is 10% of the domestic market Can chinese cars even top 10% of their domestic market after2nd year of.operation?

Yes, we did it but unfortunately, vinfast couldn't. Lol..

 

[Viet]

@Viet

What happen to your supapowa Vinfast?

The loss is expected. You can’t make money immediately.

 

[Journeyman]

Vinfast already built 40,000 electric vehicle charging stations in Viet Nam and by the end of 2022, Vinfast expect to increase this number to 150,000 stations. Electric vehicle is the future of Vietnam and with the new decree to lower electric vehicle's special consumption tax down to 3%, foriegn car brands' days in Vietnam is numbered.

 

[Song Hong]

Vinfast already built 40,000 electric vehicle charging stations in Viet Nam and by the end of 2022, Vinfast expect to increase this number to 150,000 stations. Electric vehicle is the future of Vietnam and with the new decree to lower electric vehicle's special consumption tax down to 3%, foriegn car brands' days in Vietnam is numbered.

Vietnam market can easily support one car marker, never mind they started off buying COTS components.

Shangqi of China is doing this even after 30 years.

 

[Indos]

Vinfast is a very brave business plan, I believe the owner of the group is a very nationalist person