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    VIC   VN000000VIC9

VINGROUP JOINT STOCK COMPANY

(VIC)
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End-of-day quote Ho Chi Minh Stock Exchange  -  05-25
77700.00 VND    0.00%
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Vingroup Starts Construction on EV Battery Manufacturing Factory in the Vung Ang Economic Zone

12/13/2021 | 02:22pm EDT

The People's Committee of Ha Tinh Province and Vingroup officially began construction of the VinES Battery Manufacturing Factory in the Vung Ang Economic Zone (Ha Tinh). The facility is backed by VND 4,000 billion (nearly USD 173.7 million) in investments and is being developed on 8 hectares in its initial phase. The establishment of this factory represents an important milestone in VinFast's strategy of self-production and supply of batteries with global standards for its electric vehicles. The VinES Battery Manufacturing Factory will provide Lithium batteries for VinFast's electric cars and buses. In Phase One, the factory will scale 8 hectares, funded by a total investment of more than VND 4,000 billion. The entire infrastructure of the factory, including a casting shop, a welding shop, and a packaging (battery pack) shop, is designed to produce 100,000 battery packs per year. Phase Two of the factory will expand production to include battery cells manufacturing and upgrade capacity to 1 million battery packs per year. This very first and most advanced battery plant in Vietnam will be equipped with European and American-standard technologies that boast an astounding workflow automation rate of 80%. Vingroup is also working with strategic partners, include world's leading companies in pioneering technologies for the production of electric vehicle batteries. The construction of the VinES Battery Manufacturing Factory marks a significant step in implementing Vingroup's "three-pillars" battery strategy, including procuring batteries from the world's top manufacturers, collaborating with partners to produce the world's best batteries and conducting in-house research and development for battery production. This is a key strategy in VinFast's goal of becoming a global smart electric vehicle company. With this, VinFast will be able to provide a wide range of batteries that are suitable for each of its electric vehicle lines, fulfill growing demands in the Vietnamese and global markets. The importance of this battery factory in VinFast's global expansion plan is especially significant given its recent introduction of two electric car models, the VF e35 and VF e36, at the Los Angeles Auto Show last November. Once operational, the project is expected to attract thousands of domestic and foreign workers and contribute to accelerating industrial production in Ha Tinh Province.


© S&P Capital IQ 2021
All news about VINGROUP JOINT STOCK COMPANY
05/24Vietnam EV maker VinFast to shift legal HQ to Singapore ahead of first exports
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Financials
Sales 2022 155 198 B 6 679 M 6 679 M
Net income 2022 1 130 B 48,6 M 48,6 M
Net Debt 2022 126 080 B 5 426 M 5 426 M
P/E ratio 2022 68,5x
Yield 2022 -
Capitalization 288 290 B 12 400 M 12 408 M
EV / Sales 2022 2,67x
EV / Sales 2023 1,94x
Nbr of Employees 88 220
Free-Float 24,0%
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Number of Analysts 3
Last Close Price 77 700,00 VND
Average target price 105 233,33 VND
Spread / Average Target 35,4%
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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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