VinFast plans EV truck, ‘minicar,’ looks to up production 7x higher in ’23

SANFORD – VinFast is rolling out new electric vehicle models, sees sales hitting as many as 50,000 vehicles this year, is raising capital to build its new plant in Chatham County, and aims to break even financially by 2024.

Of course that’s “if things go as planned,” said Vingroup chairman Nhat Vuong in a recent company meeting.

“When the market is robust again and sentiment improves…VinFast will bring back financial happiness,” Vuong said, according to Reuters.

Highlights:

Two new vehicles, including a pickup and a “mini car” that could cost well under $12,000 or less. “Unfortunately, no technical details have been published yet,” reports Electrive.com.
Although sales are off to a slow start in the U.S. (and getting negative reviews from some auto magazines), the company says sales could soar to 50,000 this year from 7,400 in 2022.
VinFast continues to pursue a stock offering in the U.S. this year that could produce $23 billion.

Regarding the stock offering, Reuters reported that the company said it “opens up potential fundraising opportunities for Vingroup in general and VinFast in particular from the global markets.” No further details were disclosed.

VinFast plans to bring its North Carolina plant online in 2024 and hire thousands of workers.