Vietnam's Vingroup chairman says EV unit VinFast to break even in 2027
A VinFast EV is seen plugged in at the Canadian International Auto Show in Toronto, Ontario, Canada February 15, 2024. REUTERS/Cole Burston
HANOI, April 22 : Vietnamese electric vehicle maker VinFast will break even next year, the chairman of its parent Vingroup said on Wednesday, confirming a Reuters report earlier this month.
VinFast is expected to deliver 300,000 EVs this year, two-thirds of which would be for the domestic market, according to a Vingroup document.
• Vingroup Chairman Pham Nhat Vuong, speaking at a shareholder meeting, said VinFast would not return to producing internal combustion engine cars.
• He also said the company was preparing for an initial public offering of its taxi service unit Green SM in 2028.
• Vingroup is also planning to switch a planned LNG power plant project in Haiphong to one running on renewable energy, he said.
• Vingroup is seeking approval from its shareholders for a net profit target of 35 trillion dong this year, up from 11.1 trillion dong last year, according to a Vingroup document.
