TECH - VinFast Auto Stock Is Soaring On Friday - Here's Why | Benzinga
VinFast Auto Ltd. (NASDAQ:VFS) shares are trading higher after the company announced that it anticipates sustained growth for the next five years and is approaching its break-even point.
In an exchange filing, the Vietnamese electric vehicle startup said it sees a 30x to 40x increase in sales in the U.S. market this year, over $6.4 million in 2023.
Further, VinFast confirmed that this growth trajectory can be sustained over the next five years.
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Funded by Vietnam’s richest man, Pham Nhat Vuong, VinFast said it is strengthening its establishment of manufacturing facilities to leverage ...