GPS News
CAR TECH
Vietnam automaker sends EVs to Laos for electric taxi service
Vietnam automaker sends EVs to Laos for electric taxi service
by AFP Staff Writers
Hanoi (AFP) Oct 13, 2023

Vietnamese automaker VinFast on Friday sent 150 cars to neighbouring Laos for the launch of an electric taxi service, months after starting a similar scheme at home.

The communist state's first homegrown car manufacturer is hoping to compete with EV giants such as Tesla, and is trying to crack international markets.

The taxi service in Laos will be run by Green and Smart Mobility JSC (GSM), which shares the same parent company as VinFast -- the Vietnamese conglomerate Vingroup.

"Laos is an ideal starting point for GSM to expand internationally," said GSM CEO Nguyen Van Thanh.

"GSM has set the goal to promote Vietnamese electric vehicles to global consumers."

The announcement follows the launch of Vingroup's electric taxi service in Vietnam in April.

The conglomerate is owned by Vietnam's richest man, Pham Nhat Vuong, who runs hotels, apartments and hospitals across the country.

But VinFast's international expansion has faced a rocky start.

Of the 11,300 vehicles it sold in the first half of 2023, 7,100 were bought by GSM.

The company listed on the Nasdaq in August, where its shares veered wildly.

At one point its valuation was greater than auto behemoths Ford and General Motors, before lurching back down.

In the third quarter, VinFast reported a net loss of $623 million.

But GSM says it aims to expand operations to 27 of 63 provinces and cities in Vietnam by the end of 2023, with a fleet of 30,000 electric taxis and over 90,000 electric scooters.

Related Links
Car Technology at SpaceMart.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
CAR TECH
Chinese electric vehicle firm WM Motor files for bankruptcy
Shanghai (AFP) Oct 11, 2023
Chinese electric vehicle company WM Motor has filed for bankruptcy, it said in a statement, a stark reminder of the fierce domestic competition in the world's largest car and EV market. Analysts say China is leading the world when it comes to electric vehicle development, but the sheer number of brands and sluggish consumer spending make it tough for local companies. WM Motor was seen as one of the firms more likely to succeed, with primary backing from internet giant Baidu and additional suppor ... read more

CAR TECH
Climate change is improving French wine -- for now

Sugar prices hit 13-year high due to El Nino fallout: FAO

In pesticide-heavy Brazil, could crop dusting be killed off?

Fukushima sake brewer warms shattered Japanese fishing community

CAR TECH
TSMC applies for 'permanent' permit to export US equipment to China factory

A new way to erase quantum computer errors

South Korea's Amkor opens $1.6 bn chip factory in Vietnam

Taiwan to probe firms over Huawei chip plants in China

CAR TECH
Boeing, NASA, United Airlines and DLR to test SAF benefits with air-to-air flights

easyJet signs up to Airbus' pioneering carbon removal solution

NASA targets 2024 for first flight of X-59 Experimental Aircraft

Airbus Helicopters pioneers user-friendly ways to fly eVTOLs

CAR TECH
Vietnam automaker sends EVs to Laos for electric taxi service

French taxi drivers bring unfair competition case against Uber

Chinese electric vehicle firm WM Motor files for bankruptcy

Stockholm to ban petrol, diesel cars in city centre

CAR TECH
Former Bank of China chairman arrested for corruption

Markets snap week-long rally as US inflation dents rate hopes

Borrell says trust between EU, China 'eroded'

China saw moderate third-quarter growth as hurdles persist: survey

CAR TECH
Kenya court blocks lifting of logging ban

Younger trees champion carbon capture

Deforestation down in Brazil's Amazon

Carbon-capture tree plantations threaten tropical biodiversity for little gain

CAR TECH
Hawaii gets $8M for new space tech to measure Earth's chemical composition

Ozone hole goes large again

NASA selects Umbra for their CSDA Program

EU agrees to eliminate climate warming 'F-gases' by 2050

CAR TECH
World Nano Foundation highlights nanotech's role in space materials science

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.