VinFast Auto Ltd.

Good day and welcome to the VenFast Auto Limited 3Q 2023 earnings call. At this time, all participants are in listening mode. Later, we will conduct a question and answer session and instructions will be given at that time. As a reminder, this call is being recorded. I would like to turn the call over to Carol Nguyen, head of investor relations. You may begin.

Good morning. Good morning. turned over to Tweet, let me remind you that some of the statements on this call include forward-looking statements under federal securities law. These include, without limitation, statements regarding the future financial performance of the company, delivery volumes, financial and operating outlook and guidance, macroeconomic and industry trends, company initiatives, and other future events. These statements are based on the predictions and expectations as of today, and actual events or results may differ due to a number of risks and uncertainties. We refer you to their cautionary language and the risk factors in our most recent violence with the SEC. In addition, management will make reference to non-GAAP financial measures during this call. A discussion of why we use non-GAAP financial measures and information regarding reconciliation of our GAAP versus non-GAAP results is available in our earnings press release issued earlier this morning, as well as in the investor deck. With that, I'd like to turn it over to Madam Dwee.

Thank you, Karen. Welcome, everyone, to WinFast's third quarter of 2023 earnings call. Thank you for joining us. Firstly, I would like to talk about the strategic priorities. We are excited to update you on our accomplishments over the last quarter. But first, I want to reiterate our unwavering focus on our strategic priorities to strengthen and grow the business, which are largely in line with those shared recently for Q2. Priority number one is global growth. We continue to be pleased with the response and interest our vehicles have received across our global markets, especially amongst consumers in North America. We remain focused on shipping the VF9 to North America by the end of the year, as well as targeting first deliveries of the new VF6 later this year in Vietnam, and the VF7 and VF3 in 2024. Priority number two is the expansion of our global footprint. We are continuing to build out our production capabilities in North Carolina, and the facility will best position us to serve the North American market. We are progressing in our evaluation of up to 50 global and other markets. In the future, we have identified as having high potential for us to engage quality distributors to import and distribute BINFAST cards. I will share more about two markets in particular in a moment. And priority number three is our continued focus on building automotive technology through our in-house and external partnerships, making our vehicles smarter and more reliable for our customers. Next, I would like to discuss the key milestones achieved in Q3. A few highlights for our third quarter is In September, BINFAST officially introduced a B-segment AV model, the VF6 in Vietnam. The affordable VF6 is designed for families by Torino Design, equipped with a wide range of smart features and ADAS Level 2 capabilities. The model is offered in two chains, base and plus. With an expected WITP driving range of 248 miles and 237 miles respectively, at a trust time of less than 25 minutes. FinFast will start taking reservations for the VF6 in Vietnam later this month. We are pleased that the new model has already attracted significant interest with meaningful interactions on Facebook and TikTok. We are also making strides in global expansions. As we unveiled recently for Q2, FinFast is establishing broad distribution channels leveraging local networks and the expertise of third-party dealerships and distribution to increase coverage in our growing list of target markets. We aim for our vehicles to be present in up to 50 markets and countries globally by the end of 2024. And in the US specifically, this approach will provide increased consumer access in substantially more states as compared to a pure direct-to-consumer model. In fact, we have signed 27 letter of interest with well-known dealership groups covering more than 100 open dealership points across the US, including but not limited to Florida, Texas, North Carolina, Virginia, Louisiana, New Jersey, and so on. Leveraging local distributors in many of our key markets makes for a capitalized expansion model that will allow E-Plus to be more efficient about cost and use of capital. We recently announced plans to commence delivery of our EVs in Indonesia by 2024, identifying the country as a key market for the establishment of manufacturing facilities of our EVs and batteries. In addition to Indonesia, we have identified India as another market where we intend to build a facility to begin production in 2026. Each facility has a planned total capacity of up to 50,000 tasks per year in Phase 1 and an estimated total coverage of $150 to $20 million. We expect to participate in the tremendous potential brought by the increased EV adoption in both Indonesia and India. while energy penetration is currently still very low. We look forward to keeping you updated on the international expansion of our manufacturing facilities, which will complement our existing facility in Haiphong and our factory in North Carolina once production commences. Also in Q3, we have received $925 million in loans from Vingroup and $291 million dollars in grants from our channel, as well as 240 million from our e-SPAC merger transaction and the strategic investment from GoShip. We continue our expansion, adding over 10,000 new third-party charging points in North America and gaining access to about 500,000 charging points through Bosch Network, an incorporation for vehicles delivery in the EU later this year. And we are including discussions with other key charging partners as well, globally. And again, we continue to expand our global footprint. By the end of Q3, Binfast had 247 showrooms and workshops for e-scooters and 126 showrooms globally for EVs after opening three in Berlin, Munich and Hamburg this past quarter. Finally, looking forward, we remain focused on executing against our strategic priorities to strengthen and grow the business. We will continue to expand our global footprint with manufacturing probability in key markets, such as Indonesia and India, where we expect high EV demand growth. We will build and develop our business model as we expand our distribution network and enter new markets. to third-party dealership and distribution. In addition, we are making a significant effort to reduce our capex. We estimate our capex spending for global manufacturing to decrease by about $400 million in 2024 and 2025. This optimization of our manufacturing capex will allow us to expand into Indonesia and India while maintaining overall spend lower than our prior estimates. And finally, we continue to maintain and promote our best-in-class after-sales policy in the markets as we expand our global markets. I would like now to hand over to David, who will discuss our financial performance for the quarter.