whip cow keen report, February 24 news, according to foreign news reports, Vietnamese electric vehicle manufacturer VINFAST reported on Thursday that although the income increased by 90%, the sales target was not achieved, 2023 2023The annual net loss exceeds $ 2 billion.
VINFAST said in a document submitted to the US Securities and Exchange Commission that its total revenue in 2023 was 1.19 billion US dollars, an increase of 91%over the previous year.However, the company also reported that after the sales target of electric vehicles was not achieved, the net loss was 2.39 billion US dollars, an increase of 14.7%over 2022.
ANH NGUYEN, chief financial officer of vinfast, said in a statement: In the fourth quarter, our business operations have achieved good results, with strong income growth and increased profit margins.
"We are still committed to increasing investment performance and strengthening our balance sheet by reducing production and material costs."
In 2023, VINFAST electric vehicles delivered a total of 34,855 vehicles, worth 1.09 billion US dollars, an increase of 111%over the previous year, but this number below Vinfasts 50,000 targets.The filling materials said that VINFASTs gross loss last year was US $ 551.6 billion, and the hair loss in the fourth quarter was US $ 174.9 million.However, its revenue from October to December reached US $ 436 million, an increase of 26%over the previous quarter.
The company said that it will raise the 2024 delivery target to 100,000 units, and focus on penetrating the international markets other than the United States, Canada and Europe.VINFAST announced on Wednesday that it will start to build an electric vehicle factory in Tamilnadbon, southern India on February 25 with an annual production capacity of 150,000 vehicles.
The company also plans to invest at least 1.2 billion US dollars in Indonesia, plans to establish an electric vehicle factory there, and has expressed its intention to invest in the Philippines.
VINFAST was listed on Nasdaq in August. Its valuation soared first and plummeted, becoming a headline news from all over the world.The companys chief executive is Pham Nhat Vuong, the richest man in Vietnam and VINFASTs parent company Vingroup.
