24/7 Space 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
Space needs better 'parking spots' to stay usable

Law professor calls for ethical approach to human experiments in space

Ethics rules needed for human research on commercial spaceflights, panel says

Ethical guidelines needed before human research in commercial spaceflight is ready for liftoff

CAR TECH
EU warns Musk's X spreading 'illegal' disinfo after Hamas attack

Orbit Fab appoints Chief Engineer, advances refueling system test capabilities

Rocket Lab opens engine development center in Long Beach

Vega-C Zefiro40 Test: Independent Enquiry

CAR TECH
Bumping to a Better Position: Sols 3973-3974

Light rocks on deck, gray rocks in the hole: Sols 3966-3697

NASA's Perseverance captures dust-filled Martian whirlwind

Double DRT for a Soliday: Sols 3964-3965:

CAR TECH
Astronauts honored for contributions to China's space program

China capable of protecting astronauts from effects of space weightlessness

Tianzhou 5 spacecraft burns up on Earth reentry

Crew of Shenzhou XV mission honored for six-month space odyssey

CAR TECH
Amazon's Project Kuiper takes flight with first satellite launch

Amazon Gears Up for Inaugural Satellite Launch of Project Kuiper

Momentus announces $4M direct offering priced at-the-market under Nasdaq rules

Study quantifies satellite brightness, challenges ground-based astronomy

CAR TECH
Physicists coax superconductivity and more from quasicrystals

$9.5 bn of key metals in overlooked electronic waste: UN

Spire Global selected by accelerate digitalization across the maritime industry

Making more magnetism possible with topology

CAR TECH
James Webb telescope captures planet-like structures in Orion Nebula

Study sheds new light on strange lava worlds

JWST's first spectrum of a TRAPPIST-1 planet

Alien Machines in the Solar System: The Possibilities and Potential Origins

CAR TECH
Large mound structures on Kuiper belt object Arrokoth may have common origin

Plot thickens in the hunt for a ninth planet

Webb finds carbon source on surface of Jupiter's moon Europa

Hidden ocean the source of CO2 on Jupiter moon

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.