{
}
GoTo Group reported a 93% increase in net revenue for 2024, achieving positive annual adjusted EBITDA for the first time, despite remaining loss-making. The fintech segment, including lending and GoPay, drove growth with a 95% revenue increase, while outstanding consumer loans surged 2.7 times. The company is in merger talks with Grab, aiming for greater market share amid Indonesia's economic challenges.
VinFast has partnered with Bank Negara Indonesia (BNI) to boost electric vehicle adoption in Indonesia. The memorandum of understanding, signed during the Vietnam-Indonesia High-Level Business Dialogue, includes financial solutions from BNI and special pricing for BNI employees from VinFast. Both organizations will also launch public awareness campaigns to promote EVs as VinFast expands its presence in the Indonesian market.
VinFast Auto Ltd. is set to launch its new electric vehicle manufacturing plant in Ha Tinh, Vietnam, by July next year. The facility will initially produce the VF 3 and VF 5 models, with a production capacity of 300,000 cars annually, with plans to double this target in the future.
VinFast Auto Ltd. reported a narrowed net loss of 13.25 trillion dong ($521.3 million) in the third quarter, marking a 14.8% decrease from the previous year. The improvement in financial performance is attributed to a significant increase in electric vehicle sales.
Vietnamese billionaire Pham Nhat Vuong has pledged to invest approximately $2 billion into VinFast Auto Ltd., a struggling electric vehicle manufacturer. Additionally, parent company Vingroup JSC plans to loan VinFast up to $1.38 billion and convert existing loans of about 80 trillion dong into preferred shares to ease financial pressures.
VinFast Auto Ltd.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
GoTo reports strong revenue growth while navigating Indonesia's economic challenges
10:00 13.03.2025
VinFast and BNI partner to boost electric vehicle adoption in Indonesia
16:21 11.03.2025
VinFast to Launch New EV Plant in Vietnam by July
06:38 08.12.2024
vinfast reports narrowed losses and increased revenue from higher ev sales
12:55 26.11.2024
vinfast secures two billion dollar investment from billionaire pham nhat vuong
11:06 12.11.2024
Trending
Subcategory
Industry Trends
Corporate News
Startups & Entrepreneurship
Global Trade Developments
Retail and Consumer Goods
Supply Chain Management
Stock Market Updates
Government Economic Policies
Private Equity Deals
AI Applications
Funding Rounds & Investments
Energy Sector Developments
Industry Mergers & Acquisitions
AI Innovations
Fintech Startups
Venture Capital Investments
Emerging Startups
IPOs & SPACs
CEO Changes
Inflation and Monetary Impact
Countries:
Companies:
Apple Inc.
Google Inc.
Tesmec S.p.A.
Amazon.com, Inc.
Mastercard Inc
NVIDIA Corp
Tesla, Inc.
Microsoft Corporation
The Goldman Sachs Group, Inc.
Visa Inc.
SWIGGY LIMITED
OpenAI ERC USD
Ripple USD USD
OLA ELECTRIC MOBILITY LTD
Microsoft Corp
Micron Technology, Inc.
SAP SE
Oracle Corp
Ather Energy Ltd.
GLOE Inc.
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
Japanese Yen
British Pound Sterling
Saudi Riyal
United Arab Emirates Dirham
New Zealand Dollar
Thai Baht
Vietnamese Đồng
Canadian Dollar
Indonesian Rupiah
South Korean Won
Malaysian Ringgit
Brazilian Real
Swiss Franc
Qatari Riyal
Bangladeshi Taka
Kuwaiti Dinar
People: