TIZIANA LIFE SCIENCES LTD

(TLSA)
  Report
Delayed Nasdaq  -  05/27 03:59:42 pm EDT
0.6601 USD   -1.31%
05/24TIZIANA LIFE SCIENCES : Announces Annual Report Filed to Regain Nasdaq Compliance
PU
05/23TIZIANA LIFE SCIENCES : Annual Report by Foreign Issuer (Form 20-F)
PU
05/23Tiziana Life Sciences PLC Reports Earnings Results for the Full Year Ended December 31, 2021
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Vietnam car maker VinFast to build U.S. battery factory as it goes all-electric

01/05/2022 | 11:02pm EDT

* VinFast to cease gasoline-powered car production by end-2022

* Potential U.S. plant sites narrowed down to 'about 3' - VinFast Global CEO

* Starting price for a VinFast car at $41,000

* VinFast to establish EV plant in Germany

SAN FRANCISCO, Jan 6 (Reuters) - Vietnam's VinFast plans to build electric vehicle battery cells and packs in a new U.S. manufacturing complex, its global chief executive told Reuters, as the company pledged to transform itself into an all-electric automaker by the end of this year.

VinFast, part of Vingroup JSC, the largest conglomerate in the Communist-ruled country, became the country's first full-fledged domestic car maker when gasoline-powered models built under its own badge hit the streets in 2019.

The company, which began selling electric vehicles (EVs) in Vietnam at the end of 2021, said in a statement on Thursday it planned to become what it said would be the first car company to cease making gasoline-powered cars and transition to all-electric vehicle production from late 2022.

VinFast is betting big on the U.S. market, where it hopes its electric SUVs and a battery leasing model will be enough to tempt consumers away from the likes of Tesla and General Motors.

"We will build our gigafactory in the U.S. as well," Le Thi Thu Thuy, Vingroup vice chair and VinFast Global CEO said, referring to the new battery facility in an interview during her U.S. visit to attend the Consumer Electronics Show in Las Vegas.

The company will continue to source batteries from its suppliers, she added.

Thuy said VinFast will initially assemble battery packs with cells sourced from its supplier at its U.S. complex before starting its own production there.

"We have narrowed down from I think, over 50 sites to about three sites," she said.

She will visit some sites during her trip before making a decision this year, adding that the "mega site" would also include an electric bus factory.

In December, Vingroup said it had started building a battery cell plant in Vietnam. The company is looking to initially produce 100,000 battery packs per year, with $174 million in investment, and then upgrade capacity to one million.

EV PLANTS

VinFast previously told Reuters it had plans https://www.reuters.com/business/autos-transportation/vietnams-vinfast-plans-us-listing-couple-years-ceo-2021-11-17 to start producing electric cars in the U.S. in the late 2024.

The company said that on Thursday it was seeking to establish an EV plant in Germany.

"The era of shipping cars around the world is over, especially since COVID-19. You must have the factory close to the market in order to win over your customers," VinFast said in a statement.

VinFast said prices for its VF8 sport utility vehicle (SUV) started from $41,000 in the United States, and that it would apply blockchain technology to record orders and confirm ownership. By comparison, a Tesla SUV sells for around $50,000.

Vingroup said it was targeting global electric vehicle sales of 42,000 in 2022. Shares of Vingroup rose as much as 5.8% on Thursday after it revealed VinFast's EVs line-up and the plans to go all-electric. VinFast is eyeing a share listing in the United States this year. (Reporting by Hyunjoo Jin; Editing by Richard Chang, Ed Davies)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG SDI CO., LTD. 1.37% 590000 End-of-day quote.-9.92%
TESLA, INC. 7.33% 759.63 Delayed Quote.-28.12%
TIZIANA LIFE SCIENCES LTD -1.31% 0.66005 Delayed Quote.-31.24%
VINGROUP JOINT STOCK COMPANY 0.39% 78000 End-of-day quote.-17.98%
All news about TIZIANA LIFE SCIENCES LTD
05/24TIZIANA LIFE SCIENCES : Announces Annual Report Filed to Regain Nasdaq Compliance
PU
05/23TIZIANA LIFE SCIENCES : Annual Report by Foreign Issuer (Form 20-F)
PU
05/23Tiziana Life Sciences PLC Reports Earnings Results for the Full Year Ended December 31,..
CI
04/26TIZIANA LIFE SCIENCES : At the B. Riley Securities 2022 Virtual Neuro & Ophthalmology Conf..
PU
04/26Tiziana Life Sciences to participate in a Fireside Chat At the B. Riley Securities 2022..
GL
04/05Tiziana Life Sciences Says FDA Permits Adding Eight More Multiple Sclerosis Patients in..
MT
04/05TIZIANA LIFE SCIENCES : FDA Grants Permission to Enroll up to 8 Additional Secondary Progr..
PU
04/05FDA Grants Permission to Enroll up to 8 Additional Secondary Progressive Multiple Scler..
AQ
04/05Tiziana Life Sciences Announces FDA Grants Permission to Enroll Up to 8 Additional Seco..
CI
03/25Tiziana Life Sciences Initiates Phase 1b Trial of Foralumab Capsules in Crohn's Disease
MT
More news
Analyst Recommendations on TIZIANA LIFE SCIENCES LTD
More recommendations
Financials
Sales 2022 - - -
Net income 2022 -26,8 M -33,8 M -33,8 M
Net Debt 2022 - - -
P/E ratio 2022 -5,23x
Yield 2022 -
Capitalization 53,5 M 67,5 M 67,5 M
Capi. / Sales 2022 -
Capi. / Sales 2023 -
Nbr of Employees 14
Free-Float 10,0%
Chart TIZIANA LIFE SCIENCES LTD
Duration : Period :
Tiziana Life Sciences Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 52,32 GBX
Average target price 389,75 GBX
Spread / Average Target 645%
EPS Revisions
Managers and Directors
Kunwar Shailubhai CEO, Executive Director & Chief Scientific Officer
Keeren Shah Finance Director
Gabriele Marco Antonio Cerrone Executive Chairman
Vaseem A. Palejwala Director-Clinical Operations
Neil Graham Chief Medical Officer
Sector and Competitors
1st jan.Capi. (M$)
TIZIANA LIFE SCIENCES LTD-31.24%68
MODERNA, INC.-41.86%58 733
LONZA GROUP AG-24.79%44 437
IQVIA HOLDINGS INC.-21.85%41 736
SEAGEN INC.-8.54%26 026
ICON PUBLIC LIMITED COMPANY-26.61%18 478