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Geely’s ambitious plan is to construct a US$168-million manufacturing plant in northern Vietnam is set to unfold as scheduled, despite broader concerns cast by its chairman and founder, Li Shufu. Just last Saturday, Shufu pointed out the global automotive…
Billionaire Pham Nhat Vuong, the chairman of the private conglomerate Vingroup and recognized as Vietnam’s wealthiest individual, has injected a staggering VND20.5 trillion (approximately US$790 million) into the automaker VinFast between November and May.…
Domestic car sales in Thailand experienced a glimmer of hope in April, marking a 1% year-on-year increase—the first boost in nearly two years, as reported by the Federation of Thai Industries (FTI). This slight recovery comes as a welcome surprise amid a…
VinFast Sees Strong Revenue Growth Amid Global Market Challenges Company Reports Significant Increases in Deliveries and Revenue VinFast, the Vietnamese electric vehicle (EV) manufacturer, has demonstrated impressive revenue growth in its unaudited financial…
Volvo has unveiled its first all-electric sedan, the ES90 for the global market. Built on the carmaker’s SPA2 platform, the ES90 is the sixth all-electric model in Volvo’s portfolio after the EX90, EM90, EX40, EC40 and EX30. The carmaker has stated that the…
Chinese auto giant BYD’s premium electric vehicle brand Denza has made its official debut in Singapore with two variants, both costing over US$200,000. According to Singapore-based car selling platform Motorist, the brand launched its first model in the…
The world’s biggest electric vehicle maker, China’s BYD, will set up shop in Hanoi in May. It would sell its first cars in the sedan and SUV segments, sources familiar with the matter said. Its SUV BYD Atto 3 is among the most sought-after cars globally. It…
The domestic auto market in Vietnam is experiencing a decline in car sales due to sluggish customer demand compared to previous years, according to local car experts. The experts said the number of customers visiting car dealerships has not increased compared…
Land Rover Vietnam has implemented a new strategy to enhance client experience, its General Manager Ruud Poels said at the JLR Retailer Hanoi launch of its first global standard retail destination on Nov. 23. As an active player in the automotive industry in…
Ford has recalled 1,182 Everest and Explorer SUVs in Vietnam for engine control module software failure and a rearview camera display error. The Everest recall involves 185 vehicles, all produced at Ford’s factory in Thailand between June 28, 2022, and April…
Mercedes, BMW, Audi, and Volvo have been slashing their prices by hundreds of millions of dong (VND100 million = US$4,200) in October. Audi is offering discounts on its A4, A6, A8L, Q2, Q3, Q5, Q5 Sportback, Q7, A7 Sportback, and Q8 models of up to VND300…
Honda Motor Company has said that it won’t be supplying new cars to its authorized dealers in Russia in 2022 as the company is trying to restructure its operations. The Japanese automaker has confirmed that it would keep its presence in the Russian market…
Porsche has expanded the functionality of the My Porsche App by integrating it with Apple CarPlay. This added functionality has established Porsche as the first automotive manufacturer to integrate vehicle functions into the CarPlay experience. The My Porsche…
VinFast has become the third most valuable electric vehicle maker behind Tesla and BYD with a market cap of US$85 billion. Its shares listed on the U.S.’s Nasdaq stock exchange Tuesday at $22 and closed at over $37 billion. VinFast’s market cap is higher than…
Auto sales jumped to 24,687 units in July, the second-highest monthly number this year behind only March. The Vietnam Automobile Manufacturers Association (VAMA), which provided the data – excluding TC Motor and VinFast sales – said however sales were down…
Vietnamese electric vehicle maker VinFast said it expects to start trading on the U.S. Nasdaq as soon as next week after its merger into a special purchase acquisition company (SPAC) was approved on Thursday. On Thursday, shareholders of Hong Kong-based Black…
