On September 21, VinFast Auto Ltd., a subsidiary of Vingroup JSC, announced its unaudited financial results for the quarter ended June 30, 2023.
• Total revenues, primarily from selling EVs , were VND 7,952,531 million (USD 334.1 million), an increase of 131.2% from Q2 2022 and an increase of 303.3% from Q1 2023.
• Loss from operations improved to VND 9,230,423 million (USD 387.8 million) in Q2 2023, a decrease of 20.0% from Q2 2022 and a decrease of 17.2% from Q1 2023.
• Net loss improved to a loss of VND 12,535,202 million (USD 526.7 million), a decrease of 8.2% from the Q2 2022 and a decrease of 11.2% from Q1 2023.
• VinFast delivered 9,535 EVs in Q2 2023, representing an increase of approximately 436% from Q1 2023 when it sold 1,780 EVs, as well as Q2 2022 when it sold 1,789 EVs.
• Vietnamese EV-only taxi operator GSM, a member of the Vingroup and affiliate of VinFast, entered into vehicle sale agreements with VinFast for up to 30,000 EVs, of which approximately 7,100 EVs have been delivered through June 30, 2023.
• VF 9 deliveries have been made to customers in Vietnam and the model is available for reservations globally.
• In August 2023, the VF 9 seven-passenger all-electric SUV received a certified U.S. EPA range of 330 miles for the Eco trim and 291 miles for the Plus trim.
• VinFast is on track to commence delivery of the VF 9 in North America and the VF 6 in Vietnam by end of 2023.
• VF 7 and VF 3 models are expected to commence deliveries in 2024.
• For FY 2023, VinFast expects vehicle deliveries to be between 40,000 and 50,000 vehicles.
• On July 28, VinFast broke ground for its EV manufacturing plant in Chatham County, North Carolina, which will have an annual production capacity of 150,000 in Phase I.
EV/PHEV/HEV/FCV
For details, refer to "Availability of EV/PHEV/HEV/FCV sales data".
On September 21, Hyundai announced it is now offering customers who purchase or lease a new 2023 or 2024 IONIQ 5, 2023 or 2024 IONIQ 6 or 2023 Kona Electric a complimentary ChargePoint Home Flex Level 2 charger and USD 600 off installation using the Hyundai Home Marketplace.
Hyundai has partnered with Electrum for operating the Hyundai Home Marketplace, a one-stop shop where customers can arrange for installation of their home EV charger, and purchase solar panels and home energy storage systems.
The new offer will facilitate an improved customer experience by leveraging Hyundai’s partnership with Electrum’s home energy expertise and national network of certified installers, and its expert team of Energy Advisors.
On September 19, Teco Electric & Machinery announced it will invest USD 10 million to build a plant in Ciénega de Flores, Nuevo Leon, where it will manufacture up to 150,000 low-voltage, high-efficiency engines per year.
The plant is the first to be installed in the country, and will create 200 new jobs.
Teco's president, Sophia Chwen-Jy Chiu, explained that this plant will be the production base in North America and will transfer part of the production of the Asian factories to supply nearby markets to reduce the risks of long supply chains and to improve competitiveness.
Based in Taiwan, Teco Electric & Machinery has a presence in 40 countries and 14,000 employees worldwide.
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