VinFast just launched an electric bike in the U.S.

VinFast Auto Ltd (NASDAQ: VFS) just launched an electric bike in the United States. Its shares are trending up in premarket on Wednesday.

VinFast unveiled its DrgnFly at CES 2024

The launch of an electric bike showcases its “unwavering commitment” to green mobility, as per the automotive company based out of Vietnam.

VinFast unveiled the EV bike that it’s calling “DrgnFly” at an annual trade show (CES) on Wednesday. The Nasdaq-listed firm built the bike with lightweight but durable aluminum.  

The news arrives shortly after VinFast Auto Ltd said its revenue more than doubled year-on-year in the third quarter to $342.7 million as deliveries surpassed 10,000 versus 153 only a year ago.

Shares of the electric vehicles company have lost roughly 20% since the start of the new year.

VinFast will also launch DrgnFly in other markets

On Wednesday, VinFast Auto Ltd also confirmed that the DrgnFly will soon debut in other markets as well – as an extension of its comprehensive electric mobility ecosystem.

In the U.S., the electric bike that has a driving range of up to 63 miles will go for about $2,800. Note that VinFast is offering unlimited mileage warranty on the DrgnFly.  

At CES 2024, the Vietnamese firm also unveiled a new electric pickup truck concept this week.

In November, senior Wedbush Securities analyst Dan Ives said VinFast stock could hit $12 in about twelve months that suggests a whopping 80% upside on its current price as Invezz reported here.