The firm is aiming to shift to underground production next month, and maintains everything is on schedule
VW has team in place to sell battery arm stake, but operating losses may limit interest
Upstream ventures that could help build new non-China lithium supply chains for EV batteries inch forward
The valuation of the would-be Tesla challenger may raise eyebrows
Vietnamese EV start-up VinFast plans to list on the NYSE later this year via a merger with a special purpose acquisition vehicle (Spac) at a valuation that is seven times that of Tesla, but in a deal that brings little of the cash it needs to meet production targets.
Following the merger with Black Spade Acquisition Co., the new entity will have an enterprise value of c.$27bn, 42 times 2022 sales. That’s a multiple seven-times larger than Tesla and twice that of fellow pretender to the Tesla throne Lucid Motors.
Electrification is the future. A lukewarm commitment to some EV chargers is not the long-term way for an energy firm to address it
What Tesla looks like by the end of the decade could be radically different
The legacy OEM is all-in on electrification
Equity commitments within software JV could add up to a substantial minority stake, while working relationships are only going to get closer
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