1. Homepage
  2. Equities
  3. Vietnam
  4. Ho Chi Minh Stock Exchange
  5. Vingroup Joint Stock Company
  6. News
  7. Summary
    VIC   VN000000VIC9

VINGROUP JOINT STOCK COMPANY

(VIC)
  Report
End-of-day quote Ho Chi Minh Stock Exchange  -  05-26
78000.00 VND   +0.39%
05/24Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports
RE
05/11Vietnam's Vinfast IPO may be delayed to 2023 on market uncertainty
RE
04/29Vingroup Joint Stock Company Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Vietnam car company Vingroup starts work on $174 million EV battery plant

12/12/2021 | 08:51pm EDT
FILE PHOTO: Paris Auto Show

HANOI (Reuters) - Vietnam's biggest conglomerate Vingroup said on Sunday it had started building a $174 million battery cell plant for its VinFast electric vehicles business so the company can own its battery supply chain.

VinFast became the country's first fully fledged domestic car manufacturer when its gasoline-powered models built under its own badge hit the streets in 2019.

It is betting on the U.S. market, where its electric SUVs and a battery leasing model are expected to make their debut next year.

The battery plant, Vietnam's first EV battery project is located in central province of Ha Tinh, on a 8-hectare (20 acre) plot.

In October, the Ha Tinh local authorities said plant was expected to be a $387 million investment and on a 12.6 hectare plot.

"This is in the focus of VinFast's localisation strategy of supply," said Thai Thi Thanh Hai, vice chair of Vingroup and vice-chair of the board of VinFast.

"The strategy enables us to own our supply chain of batteries and parts."

The company said it is looking to produce 100,000 battery packs per year in a first phase and then upgrade its capacity to one million.

It did not elaborate on the project's time frame in detail but based on the October's report, the project would run at full capacity from 2025.

VinFast is working with a variety of partners for batteries, including StoreDot, Gotion High-Tech and ProLogium and is also focusing on internal R&D and is establishing research facilities to develop battery and charging technologies, the company has previously said in an emailed statement to Reuters.

Last week, Vingroup said it was looking to list in the United States in the second half of next year.

(Editing by Jane Merriman)


© Reuters 2021
All news about VINGROUP JOINT STOCK COMPANY
05/24Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports
RE
05/11Vietnam's Vinfast IPO may be delayed to 2023 on market uncertainty
RE
04/29Vingroup Joint Stock Company Reports Earnings Results for the First Quarter Ended March..
CI
04/28Vietnam's Vingroup says Q1 net profit down 41% y/y, at $22.3 mln
RE
04/20VINGROUP JOINT STOCK : PARTNERS WITH BRIGHTON COLLEGE TO BRING UK'S “INDEPENDENT SCH..
PU
04/14VINGROUP JOINT STOCK : Vinfast and electrify america announce charging agreement and mobil..
PU
04/14VINGROUP JOINT STOCK : Vinfast announces battery subscription pricing in the us and activa..
PU
04/09Vietnam's VinFast seeks US government loans for expansion
RE
04/09VinFast could seek US govt financing for expansion, Vingroup chairman says
RE
04/09VINGROUP CHAIRMAN : Says could finance vinfast planned expansion…
RE
More news
Analyst Recommendations on VINGROUP JOINT STOCK COMPANY
More recommendations
Financials
Sales 2022 155 198 B 6 678 M 6 678 M
Net income 2022 1 130 B 48,6 M 48,6 M
Net Debt 2022 126 080 B 5 425 M 5 425 M
P/E ratio 2022 68,8x
Yield 2022 -
Capitalization 289 403 B 12 453 M 12 453 M
EV / Sales 2022 2,68x
EV / Sales 2023 1,94x
Nbr of Employees 41 500
Free-Float 24,0%
Chart VINGROUP JOINT STOCK COMPANY
Duration : Period :
Vingroup Joint Stock Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VINGROUP JOINT STOCK COMPANY
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 78 000,00 VND
Average target price 105 233,33 VND
Spread / Average Target 34,9%
EPS Revisions
Managers and Directors
Quang Viet Nguyen Vice Chairman & Chief Executive Officer
Vuong Nhat Pham Chairman
Hiep Khac Le Vice Chairman
Marc Villiers Townsend Independent Director
Hang Thuy Pham Vice Chairman
Sector and Competitors
1st jan.Capi. (M$)
VINGROUP JOINT STOCK COMPANY-17.98%12 453
CHINA VANKE CO., LTD.-8.20%30 566
VONOVIA SE-26.66%29 595
VINHOMES JOINT STOCK COMPANY-15.00%13 059
DEUTSCHE WOHNEN SE-31.15%10 827
LEG IMMOBILIEN SE-23.19%7 354