VinFast’s flagship electric SUV VF9 Domestic automaker VinFast will again delay its long-awaited initial public offering (IPO) in the U.S., possibly until next year. , said Reuters on May 11. The IPO is currently scheduled for the fourth quarter of this year, as the original deadline was the second or third quarter of 2021.
Domestic automaker VinFast will again delay its long-awaited initial public offering (IPO) in the U.S., possibly until next year. , according to May 11, Reuters Report.
IPO is currently underway Scheduled The fourth quarter of this year, following a delay from an initial deadline in the second or third quarter of 2021.
“We are looking at the IPO in the fourth quarter, but now there is a lot of ongoing market uncertainty… If necessary, we may postpone it until next year,” the news agency quoted Vuong as saying in the company’s annual shareholder statement. Speaking at the meeting.
Plans to invest $4 billion in U.S. auto plants
VinFast’s Singapore-based holding company has filed for an initial public offering with U.S. securities regulators as it prepares to invest $4 billion to build a U.S. car factory.
However, Vuong told the meeting that Vingroup was prioritizing expanding VinFast production and gave an aggressive target for auto sales, even as the automaker faces challenges in getting parts — especially computer chips — from China. hurdles as major factories in Shanghai are closed due to the country’s ongoing Covid-19 lockdown.
But Vuong sought to assure shareholders that the startup would go ahead with an IPO “no matter how uncertain the market is.”
2026 sales target of 750,000 vehicles
VinFast has pledged to create 7,500 jobs at its planned plant in North Carolina, USA, where the battery-powered VF8 and VF9 sport utility vehicles will be produced. The company said it plans to begin construction of the plant as soon as the permit is granted, aiming to start production by 2024.
Vuong said VinFast aims to sell 750,000 vehicles in 2026, of which 150,000 will be built in North Carolina and the rest at its Vietnam plant.
