News - VinFast Global Community

VINFAST ENTERS INTO STANDBY EQUITY SUBSCRIPTION AGREEMENT OF UP TO $1.0 BILLION WITH YORKVILLE ADVISORS

October 20, 2023 – VinFast Auto Ltd. (the “Company” or “VinFast”) (NASDAQ: VFS) today announced that it has entered into a standby equity subscription agreement (“Subscription Agreement”) with YA II PN, Ltd. (“Yorkville”). Subscription Agreement Highlights: • VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion of ordinary shares in VinFast at any time during the term of the Subscription Agreement, subject to certain conditions and limitations • The Subscription Agreement has a term of 36 months Mr. David Mansfield, CFO of VinFast, said: “This new source of equity funding provides us with valuable optionality and access to capital to continue to expand our business on a global scale. While we are under no obligation to draw on the full amount, the transaction aligns with our goals of opportunistic capital raising while adding liquidity to our shares over time. In addition to existing funding commitments, it provides financial flexibility to fund our growth. We will continue to evaluate other capital markets transactions and sources of fundraising as VinFast continues to grow.” Mark Angelo, Founder and President of Yorkville, commented: “VinFast is a true leader in EVs. We are excited for this…

editor05

1 year, 1 month ago

The IEA projects that global emissions will peak by 2025 for the first time ever

As per the IEA’s recently issued “World Energy Outlook 2023,” clean energy has the potential to revolutionize the global energy system by 2030. Solar and electric vehicles (EVs) in particular are offering “hope for the way forward.” According to the International Energy Agency (IEA), the global energy grid in 2030 will have nearly ten times as many EVs on the road as there were in 2023. The authors observe that in 2020, 1 in 25 automobiles sold were electric; by 2023, that number has dropped to 1 in 5. Given this, it is easy to see how the momentum for EV adoption will continue to grow significantly over the next ten years. According to IEA projections, solar energy will surpass the existing electricity generation capacity of the US power system by 2030. It projects that the proportion of renewable energy in the world’s electrical mix will increase from about 30% to over 50%. According to this analysis, new offshore wind projects will receive three times as much funding as new coal and gas-fired power facilities. Heat pumps and other electric heating technologies are predicted to outsell fossil fuel boilers worldwide. “The global shift to clean energy is occurring and will…

Admin

1 year, 2 months ago

Colorado adopts California’s EV regulations in part, but falls short of the 2035 prohibition

A new Colorado Clean Car rule, which generally mirrors California’s “Advanced Clean Cars 2” law but stops short of establishing a 2035 deadline for 100% EV sales, was overwhelmingly passed by the Air Quality Control Commission of Colorado. By 2035, all new cars sold in California will be electric vehicles, according to a rule that was finalized last year. Between now and 2035, the rule aims to increase the percentage of new EV sales, with 100% ZEV and PHEV sales by that time. Given that California is the US state with the highest EV adoption rate (and could probably stand to exclude PHEVs as well), we remarked at the time (and still do) that this deadline could have been accelerated for the Golden State. The California Air Resources Board argued that by adopting a more liberal standard, other states would be more likely to follow suit and form a larger group of states that could drive the auto industry in the right direction. Several additional states, including New York, Washington, Oregon, Vermont, Massachusetts, Rhode Island, New Jersey, and Maryland, have thus far accepted the regulation. Even better, Washington has chosen 2030 as the target year rather than 2035. Colorado joined…

Admin

1 year, 2 months ago

Travel around America on the VinFast VF8 with Bau Thinh Vlog

VinFast was very happy to see Mr. Thinh’s sharing about the VF8 car during his trip around the United States. Let’s follow Mr. Thinh with VinFast to see every route around America on the VF8! VQNM #1: Prepared for a journey around the United States 1 Start the journey with a day of “Installing license plates, trying out the rooftop tent with Mr. Andrew Le at Trung Nguyen cafe” with Mr. Thinh and close friends VQNM #2: Prepared for a journey around the United States 2 Let’s follow Mr. Thinh on the VF8 to go shopping for necessary items for this long journey. If you are also planning a long-term vacation with family or friends on a VinFast car, you can refer to Mr. Thinh’s shares. VQNM #3: From Orange County to Bishop The Journey Around America officially begins from episode 3. Mr. Thinh and his family and friends will start the journey in Orange County – California. A wonderful journey is waiting ahead. VQNM #4: The American veteran was surprised to see the VinFast car Little stories on the journey to discover new lands always bring wonderful emotions. And in the first miles of the journey, Mr. Thinh had…

editor05

1 year, 2 months ago

Top ten innovations influencing the switch to electric vehicles

Here are 10 technological advancements that will have a major impact on the adoption of electric vehicles in the next years as cars continue to advance. We must acknowledge the transition to electric cars (EVs) as more than just a sustainability measure; it is also a victory for the auto industry if we are to fully appreciate how far automotive has gone. This switch from fossil fuel-powered to electric vehicles is mostly due to technology, which makes the transfer between models easier. Here are 10 technologies that have and continue to promote the decarbonization of mobility as the industry continues to adapt to the electric mode of transportation. Composite materials Composite materials can be used to make a vehicle lighter and more sustainable, as demonstrated by AEHRA, one of the most innovative companies and vehicles in the EV market. For its SUV model, the business is maximizing the use of an endlessly recyclable material by using sheet-moulded carbon. The advanced driving assistance system Advanced driver assistance technologies are now in use, opening up new options and paving the road for more advanced autonomous capabilities. These options, which range in complexity, not only give EV drivers greater comfort and convenience while…

editor05

1 year, 2 months ago

Here’s how the EV tax credit will change to an instant dealership reimbursement in 2024.

The U.S. Treasury Department announced in a press release on Friday that the federal EV tax credit will change to a point-of-sale dealership refund in 2024, providing customers immediate access to the benefit. Currently, customers must wait to submit their taxes before claiming the credit, which is up to $7,500 for new cars and $4,000 for used cars. As part of the overhaul of the EV tax credit under the Inflation Reduction Act (IRA), EV purchasers will be able to collect their credit at the dealership beginning on Jan. 1, 2024. The Inflation Reduction Act, according to Laurel Blatchford, chief implementation officer for the IRA, “allows consumers to reduce the upfront cost of a clean vehicle for the first time.” “The IRS has focused on streaming this process for car dealers as part of its commitment to improving service and helping taxpayers claim the credits they are eligible for.” To be qualified to offer the credit at the point of sale, merchants must first register with the IRS. Additionally, buyers must certify that they fall under the IRA’s income restrictions; otherwise, they will be required to repay the credit the following year when they submit their taxes. For married couples…

editor05

1 year, 2 months ago 1 Bình luận

Electric vehicles save you money – View average savings in your City in California

Electric vehicles are less expensive to fuel than their gasoline-powered equivalents nationwide, regardless of where you plug them in. In the 50 largest US cities, every power supplier offers a pricing plan that makes using electricity less expensive than using gasoline, resulting in a median annual savings of almost $770. You may save money on maintenance by driving an electric car. Battery electric vehicles (battery EVs) do not have gasoline engines, require no normal maintenance, and do not require replacement of timing belts, spark plugs, or oil. When compared to a gasoline-powered equivalent of their vehicle, these lower maintenance costs can save an EV owner over $1,500 over the course of the vehicle’s lifetime. Below is specific information about average savings in some major cities in California. Findings Depending on the electricity provider, the electricity rate plan selected, and the local gas prices, the annual savings can range from $440 to over $1,070. Many electricity providers provide cost-effective off-peak, time-of-use options for EV users. Most EV owners charge their cars overnight while they are parked at home, which frequently coincides with periods of decreased total electricity demand. During these periods, several utilities provide discounted rates. Off-peak, time-of-use rates range from…

editor05

1 year, 2 months ago

Powering Up Californians Act Is Signed Into Law

The Powering Up Californians Act, proposed by State Senator Josh Becker (D-13), has been approved by Governor Gavin Newsom and removes a significant obstacle to the state of California reaching its climate, air quality, and equity goals. California has to electrify automobiles and buildings in order to achieve these goals and to comply with state and federal legislation. To do this, the state must modernize its electric distribution system in some areas and shorten the time it takes to connect to the grid. The efforts to clean up the air are being undermined by delays in powering buildings and constructing EV charging stations. Affordable housing units in San Francisco are vacant, and because of energization delays, electric big rigs like those shown below that could be replacing harmful diesel pollutants are idle. What Does The Powering Up Californians Act Do? SB 410 (Senate Bill 410): Declares it to be the policy of the state that utilities must modernize the grid “in time to accomplish the state’s decarbonization goals and implement federal, state, regional, and local air quality and decarbonization standards, plans, and laws”; Mandates utilities to report on their compliance with those timelines, explain any noncompliances and how those will…

editor05

1 year, 2 months ago

EVs Have More Room, Here’s Why

In comparison to larger gas-powered vehicles, electric vehicles may appear to be small toys from the outside. Don’t be fooled by someone’s size, even if they appear small on the exterior and fit better in smaller parking spaces: In reality, electric vehicles (EVs) cram a maximum amount of space into a minimal amount of space. Because EVs have fewer moving parts than their gas-powered equivalents, they have more room than their gas-powered competitors. Additionally, many vehicle components are now smaller as a result of design and technological advancements, giving EVs greater space for both passengers and freight. It’s not just the ICE engine itself is taking more space, but the whole Automotive Drivetrain No engine equals more room Engines, gas tanks, multi-speed gearboxes, exhaust systems, catalytic converters, and other substantial components have long been a feature of gas-powered vehicles. However, EVs just don’t require all those big parts. They don’t need a catalytic converter or an exhaust system because they don’t burn fuel. An EV does not require a grille because it does not have a radiator. Additionally, the motors in electric vehicles only have one speed, which negates the need for a transmission or gearbox. Smaller components including spark plugs,…

editor05

1 year, 2 months ago

The Skateboard Effect’s Effect on EV Space: A Full-size Interior with a Mid-Size Body

EVs are roomier than gas cars for another reason, smart design. The skateboard system is a design used by VW, Ford, and other EV automakers. Due to where an EV’s wheels are mounted, this method gives EVs a space advantage. Imagine a gasoline vehicle as a set of skates, and an electric vehicle as a skateboard. The wheels in a pair of skates are positioned rather closely together beneath the skate body. Everything is jammed in between the front and rear wheels; there isn’t much space between them. Conversely, the wheels of a skateboard are spaced much farther apart under the skateboard platform. EVs still place everything between the wheels, just like a gas automobile, but because of the different wheel spacing design, there is a lot more interior space. Batteries, brakes, motors, and other essential components are dispersed along the’skateboard’ platform, usually inside the platform to leave a level basis for the EV’s outside framework and interior design. In addition to providing EVs with more internal room than gas vehicles, the skateboard design also lowers the center of gravity of the vehicle, improving handling. You can quickly see how interior space expands when you consider that EVs require considerably…

editor05

1 year, 2 months ago