Hyperdrive
Vietnam EV Maker’s Loss Widens Ahead of US SPAC Listing Push
- VinFast posted a net loss of $599 million in the first quarter
- The company plans to go public in the US via SPAC merger
VinFast F8 electric vehicles bound for shipment at a port in Haiphong, Vietnam.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
VinFast’s net loss widened to 14.1 trillion dong ($599 million) in the first quarter ahead of a bid by the Vietnamese electric-vehicle maker to go public in the US this year.
The company expects more operating and net losses in the near term as it scales vehicle production, sets up factories and pays for marketing, sales and servicing efforts, it said in a US regulatory filing.