VinFast will showcase electric SUVs at Investing.com's Montreal EV Show

MONTREAL – VinFast Auto (NASDAQ: ), the Vietnamese automaker, will be exhibiting its VF (NYSE: ) 8 and VF 9 electric vehicles at the Montreal Electric Vehicle Show (MEVS) from April 19-21. The event, Canada's premier electric vehicle show, will be held at Montreal's Olympic Stadium, where WinFast will be at booth #580.

The all-terrain VF 8 has a 349-horsepower twin electric motor and all-wheel drive system. It offers an Environmental Protection Agency (EPA) range of up to 425 km. Its larger counterpart, the VF 9, is a 6- or 7-passenger full-size luxury SUV with 402 horsepower and an EPA range of up to 531 km.

Both models are equipped with advanced driver assistance systems (ADAS) and state-of-the-art technologies aimed at providing a safe and intelligent driving experience. The VF 8, in particular, will be available for test drives at the event, allowing visitors to see its performance and technological capabilities.

VinFast Canada Deputy CEO Robert Mueller expressed his enthusiasm for the company's return to MEVS, noting the opportunity to connect with fans and potential customers. He highlighted VinFast's commitment to meeting the needs of Canadian consumers through a chain of electric vehicles.

VinFast's involvement in MEVS is part of its global expansion strategy, which includes entering markets in the US, Canada, Europe and parts of Asia, the Middle East and Africa. The company is also developing manufacturing plants outside of Vietnam, including the United States, India, and plans for Indonesia.

Founded in 2017, VinFast is a subsidiary of Vingroup and operates a highly automated manufacturing facility in Hai Phong, Vietnam. The company aims to lead the global electric vehicle revolution by providing high-quality products and smart services for a sustainable future.

This report is based on a press release statement.

InvestingPro Insights

VinFast Auto ( NASDAQ:VFS ) , as it prepares for an important showcase at the Montreal Electric Vehicle Show, follows a challenging financial profile, according to the latest data from InvestingPro. Despite the company's aggressive global expansion and the development of new manufacturing facilities, the financial performance points to challenges ahead.

Data from InvestingPro shows significant revenue growth for VinFast, growing 91.85% over the last twelve months as of Q4 2023. This is in line with InvestingPro Council, which analysts are optimistic about the company's ability to expand its market reach with products such as the VF 8 and VF 9 electric car models this year.

However, the company's aggressive growth seems to have come at a cost, with a gross profit margin of -46.07% during the same period, highlighting the challenges VinFast faces in maintaining profitability. InvestingPro further notes that VinFast will quickly burn through cash, which could affect its ability to sustain operations and investments without additional funding.

The stock's performance also seems to reflect these operating difficulties, with a 1-month price total return of -16.73% and a 1-year price total return of -59.18% as of 2024-106. This can be an indication of investor sentiment about the company's financial health and future prospects.

For readers interested in a deeper look into the financial health and future outlook for VinFast Auto, InvestingPro offers additional insights. Then 17 Additional InvestingPro tips are available for VinFast that can provide valuable context for potential investors. This and others. visit https://www.investing.com/pro/VFS and use coupon code to access details. PRONEWS24 for an additional 10% discount on annual or two-year Pro and Pro+ subscriptions.

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