Under the plan, about 3,000 of its VF8 crossovers would be delivered to France, Germany and the Netherlands in the fourth quarter of this year from VinFast's factory in northern Vietnam, a person familiar with the plan told Reuters. The source declined to be named because these details were not yet public. The Nasdaq-listed company's plan to expand into Europe would represent a four-fold increase from a previous unmet target of delivering 700 cars by last July, and comes as the EU probe into Chinese EV makers creates a possible gap in the market. If fulfilled, Europe could become VinFast's biggest overseas market this year. The company had shipped about 2,100 EVs earlier this year to the United States and planned to ship more VF9 models, according to its first filing to the U.S. Securities and Exchange Commission (SEC) after the listing. "We expect to deliver the first VF8 models to French, German and Dutch customers in the fourth quarter of this year," Le Thi Thu Thuy, VinFast's … [Read more...] about Vietnam’s VinFast to deliver EVs to Europe this year as EU probes China rivals
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EU’s bid to save bees stings sugar beet farmers
Europe's sugar beet growers are turning away from the crop in a move that could drive soaring prices even higher, as the EU's environmental rules clash with its bid to stem food inflation and secure supplies. Farmers are switching crops after the European Union's top court ruled in January they can no longer be granted exemptions to a ban on so-called neonics - insecticides which protect against diseases like virus yellows in sugar beet but are toxic to bees and other pollinators vital to food production. The ruling, which the bloc and environmental groups say is critical for safeguarding pollinators, some of which are currently threatened with extinction, has led to a cut in acreage devoted to sugar beet as crop yields suffer, farmers and industry experts told Reuters . "In our region, we lost 15% of the (sugar beet) area (this year)," said Alexandre Pele, who has a 240 hectare farm in central France. "I have struggled to meet volume commitments with the sugar factory … [Read more...] about EU’s bid to save bees stings sugar beet farmers
Vietnam-France ties grow strong: Ambassador
Vietnamese Ambassador Dinh Toan Thang (Photo: VNA) Paris (VNA) - Since the establishment of a strategic partnership a decade ago (September 25, 2013-2023), Vietnam-France ties have been growing rapidly both in width and depth, Vietnamese Ambassador Dinh Toan Thang told the Vietnam News Agency in a recent interview on the occasion of the 10th anniversary of bilateral strategic partnership. The ambassador said France has always been one of the leading partners of Vietnam in Europe and the world, adding that France places great importance on Vietnam's position in the region, as evidenced by its ongoing strategies and policies in Southeast Asia and the Asia-Pacific. According to him, the traditional friendship with deep-rooted historical and cultural connections and the warm sentiments between French and Vietnamese people continue to be fostered and developed among people of all walks of life and circles. The locality-to-locality ties have also expanded, with four … [Read more...] about Vietnam-France ties grow strong: Ambassador
VinFast eyes Europe expansion amid potential EU tariffs on Chinese EVs
The EV maker plans to deliver approximately 3,000 EVs to France, Germany, and the Netherlands in the fourth quarter of 2023, as the EU contemplates imposing import tariffs on Chinese EV competitors, according to a recent Reuters report. VinFast’s CEO Le Thi Thu Thuy revealed that the company anticipates introducing its VF8 models in France, Germany, and the Netherlands in Q4 this year. "Other models like the VF6, VF7, and VF9 are slated for a 2024 launch," she added. “Thuy did not indicate the number of VF8 sport utility vehicles (SUVs), but a person familiar with the matter said it would be around 3,000 vehicles, including some for Israel,” Reuters wrote. This move marks a significant growth target, with the company aiming to quadruple its European sales volume, a considerable jump from its earlier modest target of 700 EVs. The EU's stringent scrutiny of Chinese EV makers and the anticipated imposition of import tariffs could present a lucrative opening for VinFast. If the … [Read more...] about VinFast eyes Europe expansion amid potential EU tariffs on Chinese EVs
Steelmakers must act now in CBAM entry
GHG emissions inventories will cause a considerable challenge for the steel industry, photo Le Toan From October 1, steel companies exporting to the EU must adhere to the EU’s Carbon Border Adjustment Mechanism, starting with greenhouse gas (GHG) emissions reporting and reduction. At the training for steel manufacturers on GHG accounting and emissions mitigation, held on September 12 by the International Finance Corporation (IFC) and the Vietnam Steel Association (VSA), experts discussed industrial carbon reduction technologies and provided insights into opportunities and challenges related to carbon trading. As one of the fundamental industries in Vietnam, the steel industry serves as a primary input for various sectors such as construction, shipbuilding, automotive, mechanics, and others. According to information from the VSA, Vietnam exported approximately 8.397 million tonnes of steel last year, representing a 35.85 per cent decrease compared to the same period the … [Read more...] about Steelmakers must act now in CBAM entry
Vietnamese-born award-winning director’s film to compete at Oscars
Vietnamese-born director Tran Anh Hung at the closing ceremony of the cinema program "Gap Go Mua Thu" (Autumn Encounters) in Ho Chi Minh City in July, 2023. Photo by VnExpress/Thanh Tung Set for release in France on November 8, the Vietnamese-born director’s film is a screen adaptation of the 1924 novel "La Vie et la passion de Dodin-Bouffant, Gourmet" (The Life Epicure) by Marcel Rouff. It tells the story of a chef named Eugénie (Juliette Binoche) and a gastronome named Dodin (Benoît Magimel), who have worked together for 20 years before finding they have emotions for each other. As Eugénie hesitates after receiving Dodin’s proposal, Dodin decides to cook for his beloved for the first time ever in his life. The picture has received positive acclaim from critics. "Hung resists overlaying the action with music," Guy Lodge wrote in his review in Variety . "All the better to focus on every pop and chop and sizzle of the cooking process, every soft grunt of bliss in the … [Read more...] about Vietnamese-born award-winning director’s film to compete at Oscars
VietnamWood exhibition opens in HCM City
The 15th Vietnam International Woodworking Industry Fair attracts 320 exhibitors from 28 countries and territories. — VNS Photo Thu Hằng The 15th Vietnam International Woodworking Industry Fair opened at the Saigon Exhibition and Convention Centre in HCM City on September 20. It has attracted 320 exhibitors from 28 countries and territories who are showcasing their latest woodworking product lines and engaging in various curated events and activities. Exhibitors showcase comprehensive automatic production lines and wood system integration with the focus on digital transformation. It has eight foreign pavilions from Austria, Canada, France, Germany, Italy, Russia, the US and Taiwan. Speaking at the opening ceremony, Phùng Quốc Mẫn, vice chairman of the HCM City Handicrafts and Wood Industry Association, said Việt Nam is the world’s fifth largest exporter of wooden products and has substantial demand for woodworking machinery and components. Imports of such machinery have … [Read more...] about VietnamWood exhibition opens in HCM City
VietnamWood Fair kicks off in HCM City
The 15th Vietnam International Woodworking Industry Fair attracts 320 exhibitors from 28 countries and territories. (Photo: VNA) HCM City (VNA) - The 15th Vietnam International Woodworking Industry Fair opened at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on September 20. It has attracted 320 exhibitors from 28 countries and territories who are showcasing their latest woodworking product lines and engaging in various curated events and activities. Exhibitors showcase comprehensive automatic production lines and wood system integration with the focus on digital transformation. It has eight foreign pavilions from Austria, Canada, France, Germany, Italy, Russia, the US and Taiwan. Speaking at the opening ceremony, Vice Chairman of the HCM City Handicrafts and Wood Industry Association Phung Quoc Man said Vietnam is the world’s fifth largest exporter of wooden products and has substantial demand for woodworking machinery and components. Imports of … [Read more...] about VietnamWood Fair kicks off in HCM City