On Wednesday, VinFast’s creator predicted it would break even by 2024.
Pham Nhat Vuong, chairman of Vingroup (VIC.HM) and founder of VinFast, told investors at the company’s annual general meeting that Vinfast will debut an EV-pickup truck and a “mini car” in the future.
VinFast said earlier this month that it would list in the US by merging with Black Spade Acquisition Co (BSAQ.N), a SPAC.
According to its website, Hong Kong-based SPAC Black Spade listed on the NYSE in July 2021 with a two-year plan to merge with an entertainment company.
VinFast, which wants to sell electric automobiles in the U.S. and Europe, obtained $2.5 billion from Vingroup, Vietnam’s largest company, and Vuong, Vietnam’s first billionaire.
VinFast’s SPAC acquisition should finalize in 2023.
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