VinFast share plunge hits China’s VW-backed battery partner Gotion

April 22, 2024

45 Less than a minute

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HONG KONG — Gotion High-tech, a major Chinese electric vehicle battery supplier, is taking a beating from the falling share price of Nasdaq-listed Vietnamese EV maker VinFast Auto.

Gotion, in which Volkswagen holds 24.68% of outstanding shares, disclosed over the weekend that it had recorded an investment loss of 187.3 million yuan ($26.4 million) on VinFast shares as of the end of last year.

April 22, 2024

45 Less than a minute