Once they were worth more than Volkswagen. Today, VinFast finds it more than difficult to pay the rent. It has now ended in a lawsuit.
For a short period around August 2023, the stock behind the Vietnamese car brand VinFast went completely crazy.
The stock soared, making the car brand the third most valuable in the world. From several sides, however, it seemed that the trip was doomed to fail. And things have gone wrong.
Not only has the VinFast share plummeted, so that it is now down to 4.90 dollars, corresponding to 33.6 kroner each. The car brand has also been taken to court.
Reuters writes that.
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The owner of one of the buildings that the car brand rents in has not received payment. In total, VinFast now owes 356,000 dollars, equivalent to 2.4 million kroner, in rent for some premises in California.
VinFast should have paid the bill no later than May 1 this year. But since this has not happened, the real estate company, which owns the buildings, has taken the car brand to court.
In such cases, the partners usually do not want to speak publicly while the conflict is ongoing. But somewhat unusually, VinFast wanted to attach a comment to the case.
VinFast insists to Reuters that it has paid the monthly rent and that it is currently 'in dialogue' with the property company about the claim.
VinFast simply believes that it is dishonest when they are accused of not having paid rent in the period from 1 May to 1 April 2024 inclusive.
However, the car brand would like to confirm that 'payments have been paused' due to the conflict with the landlord over the terms of the lease.
However, VinFast has the habit of adding its name to some very slightly positive stories in the media. Among other things, the car brand buys its own cars, tries to smear the police on critics and as recently as April, the brand's founder had to inject billions of kroner into the company to avert bankruptcy.Read more about it here .
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