VinFast Is Burning Through Its Founder's Cash At An Alarming Rate [Yahoo! Finance]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance
Here are the important stories you need to know. 1st Gear: ViFast Handed Another $1 Billion Vietnamese automaker VinFast is really trying to get itself taken seriously as a powerhouse automaker. It's got a lineup of new electric vehicles, has established brick and mortar dealers here in the U.S. and has already irked a few auto journalists in the process. However, it doesn't seem to be doing the one thing any good automaker should: sell cars Now, the company has been handed another billion dollars from its supremely wealthy owner, reports Automotive News . The new round of funding from company founder Vietnamese billionaire Pham Nhat Vuong, is meant to help the firm expand its operation around the world. As Automotive News reports: The move marks his strongest backing yet for the Vingroup JSC unit touted as a possible challenger to Tesla Inc. “We will put all our resources into VinFast,” Vuong told a meeting of shareholders in Hanoi, without giving a timing for the cash infu
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