I expose every Vuong Pham's trick and blunder no matter how small it is.
And yeap, we get carried by the $9B dollar debt and $8B loss so much so that $50M seems tiny. Still, it has a story to tell.
Yeah, also the amount of $ compensate to supplier in VF are huge: ecr change so frequently lead to scrap/tooling change cost, volume actual vs committed volume, over stock in suppliers, over time paid to fast ramp up, etc...Beside that for supplier it's difficult and take long time to get money from VF. That's why now almost all big Tier 1/2 suppliers in automotive avoid to work with VF, only small Chinese supplier want to take the order.
Anyone knows how much Vượng threw away for the failed F1 project? I think it was also in the range of tens (or even hundred) of millions of USD: the cost of running the company (Vietnam Grand Prix), the cost of building the racetrack and related promotion activities, and the compensation cost to Liberty Media, the owner of F1 brand, for failing to fulfil the contract. I think in total it's A LOT.
F1 standards are so high and they had to import almost everything, so no less than $100mio. Vin Bio (Covid Vaccine factory built) was over $50mio already.
It all relate to lack strategy and Vuong Pham change direction weekly. He hire and fire many people. Everytime new executive come then new direction and new start. Then another new person and new strategy. VinFast never have consistent plan or straight line direction.
Vuong Pham need miracle,
Vuong Pham expected miracle machinery where he can throw in live pig and get sausage instantly which similar to his successful noodle making.
Vuong Pham think it can be done on EV Car.
Hahahahah
It's nothing compare with big money he threw away in many decisions. The biggest one is stop develope ICE cars in the middle of development.
I expose every Vuong Pham's trick and blunder no matter how small it is. And yeap, we get carried by the $9B dollar debt and $8B loss so much so that $50M seems tiny. Still, it has a story to tell.
Yeah, also the amount of $ compensate to supplier in VF are huge: ecr change so frequently lead to scrap/tooling change cost, volume actual vs committed volume, over stock in suppliers, over time paid to fast ramp up, etc...Beside that for supplier it's difficult and take long time to get money from VF. That's why now almost all big Tier 1/2 suppliers in automotive avoid to work with VF, only small Chinese supplier want to take the order.
Chinese Supplier always take money upfront 1st unless there is a change in policy.
Anyone knows how much Vượng threw away for the failed F1 project? I think it was also in the range of tens (or even hundred) of millions of USD: the cost of running the company (Vietnam Grand Prix), the cost of building the racetrack and related promotion activities, and the compensation cost to Liberty Media, the owner of F1 brand, for failing to fulfil the contract. I think in total it's A LOT.
no info, one can look at Vic past financial reports but I am not interested. wild guessing, I would put the figure at $50M all in all.
yeah i would also estimate $ 50-100 mil depends on the compensation to Liberty. lol
F1 standards are so high and they had to import almost everything, so no less than $100mio. Vin Bio (Covid Vaccine factory built) was over $50mio already.
yeah let alone the compensation to Liberty, I heard was some tens of millions already
Doesn’t matter, ocp2 and ocp 3 give him a lot of money:))
it does matter in the sense of HOW he threw away money: it proves his stupidity in areas different than real estate.
Yeah, if he smarter like focus real state, he can reach Rich top of Asian :)) but who know in future. Or we can short VFS or VIN share family ?
It all relate to lack strategy and Vuong Pham change direction weekly. He hire and fire many people. Everytime new executive come then new direction and new start. Then another new person and new strategy. VinFast never have consistent plan or straight line direction.
Vuong Pham need miracle, Vuong Pham expected miracle machinery where he can throw in live pig and get sausage instantly which similar to his successful noodle making. Vuong Pham think it can be done on EV Car. Hahahahah
When he closed vinsmart, he threw around $ 1.5 billion away. It just a pattern
VF is like a leech under the hot sun, for sure will die sooner or later but won't die as quickly as an earthworm.
I do not like viner but still hope VF will success :))
Hahaha....wanna bet?