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    VIC   VN000000VIC9

VINGROUP JOINT STOCK COMPANY

(VIC)
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Vietnam's Vinfast plans U.S. listing in a couple of years -CEO

11/17/2021 | 06:35pm EST
FILE PHOTO: A general view of VinFast's factory in Hai Phong City

LOS ANGELES (Reuters) - Vietnamese automaker VinFast plans to list on the U.S. stock market within the next couple of years, its chief executive told Reuters, joining a growing list of electric vehicle startups taking advantage of investor excitement to raise money.

VinFast, established in 2017 as part of Vingroup JSC, the largest conglomerate in the Communist-ruled country, also plans to start producing electric cars in the United States in the second half of 2024, global Chief Executive Michael Lohscheller said in an interview on Wednesday.

"Of course we work through different options. But yes, we will also go after an IPO in the United States in the next one or two years," said the former Volkswagen and Opel executive who was named to his position at VinFast in July.

Lohscheller said the company, which has a car factory in Vietnam, sees U.S. production as "an incredibly important strategic decision ... because shipping cars and cars around the world is not a long term setup."

"We want to do everything locally," he said.

VinFast unveiled two electric sport utility vehicles, VF e35 and VF e36, at the Los Angeles Auto Show on Wednesday.

It will begin taking pre-orders in the U.S. market for the electric SUVs in spring 2022 and expects to begin delivering them in the fourth quarter of that year.

(Reporting by Hyunjoo Jin; Editing by Karishma Singh)

By Hyunjoo Jin


ę Reuters 2021
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Analyst Recommendations on VINGROUP JOINT STOCK COMPANY
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Financials
Sales 2021 136 471 B 6 005 M 6 005 M
Net income 2021 3 288 B 145 M 145 M
Net Debt 2021 108 332 B 4 767 M 4 767 M
P/E ratio 2021 80,3x
Yield 2021 -
Capitalization 355 351 B 15 658 M 15 635 M
EV / Sales 2021 3,40x
EV / Sales 2022 2,70x
Nbr of Employees 88 220
Free-Float 24,5%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 96 000,00 VND
Average target price 116 500,00 VND
Spread / Average Target 21,4%
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
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