Vinfast filed confidentially for an initial public offering, as the EV automaker born out of Vietnam's Vingroup continues its fast and furious plan to expand into the U.S. and European markets.

The filing is the latest example of EV startups racing to the public markets — either through a traditional IPO or a merger with a special purpose acquisition company — in an aim to capture the same success of Tesla and the capital needed to develop and produce large volumes of vehicles. Rivian took the traditional IPO route, while Canoo, Faraday Future Intelligent Electric, Fisker, Lordstown Motors and Lucid Group have all merged with a blank-check or special purpose acquisition company to become publicly traded.

VinFast Trading & Investment Ltd., a Singapore-incorporated subsidiary of Vingroup Joint Stock Company, submitted a draft registration to the U.S. Securities and Exchange Commission, the company said in a statement on its website, adding that the size and price range for the proposed offering have yet to be determined.

The initial public offering is expected to take place after the SEC completes its review process, the company said.

Vinfast isn't exactly a household name in the U.S., but it wants to be. The company first launched in 2017 and became Vietnam's first domestic car manufacturer when its gas-powered models reached consumers in 2019. The company has since promised to build only electric vehicles by late 2022.

Last month, the company announced plans to build its first U.S. factory in North Carolina. Vinfast has said it will spend about $2 billion in the first phase of construction of the 1,976-acre North Carolina factory and will continue to invest in future phases. The first phase, which will have the capacity to produce 150,000 vehicles annually, is expected to be completed by July 2024.

The factory will be used to produce two all-electric SUVs as well as electric buses, batteries for electric vehicles and ancillary industries for suppliers.

Colorado Rockies outfielder Kris Bryant took swings in the cage Friday for the first time since he was sidelined with a sore back nearly three weeks ago and is eyeing a minor league rehab assignment as soon as next week. Bryant had a cortisone injection in Arizona on Monday that has speeded his recovery from pain in his lower back. “I think I’ve had three of these before in different areas and I wasn’t really a believer in them,” Bryant said.

Investment firms Sachem Head Capital Management and Soros Fund Management exited their positions in Peloton during the first quarter as the stock tumbled and the fitness company replaced its CEO, under pressure from an activist investment firm, regulatory filings made on Friday showed. Peloton, which makes exercise bikes and treadmills and had become a market darling during the pandemic, faced heavy selling during the first quarter and into the second quarter as the pandemic eased and people returned to gyms. Sachem Head sold 1.65 million shares some time during the first quarter, the filing made late on Friday showed.

Etherscan, CoinGecko, DeFi Pulse and other sites displayed a suspicious pop-up asking users to connect their wallets.

The U.S. baby formula shortage has sparked a surge of interest at milk banks around the U.S. with some mothers offering to donate breast milk and desperate parents calling to see if it’s a solution to keep their babies fed. It’s a pathway that won’t work for every formula-fed baby, especially those with special dietary needs, and it comes with challenges because the country's dozens of nonprofit milk banks prioritize feeding medically fragile infants. The organizations collect milk from mothers

Internet City, Dubai--(Newsfile Corp. - May 13, 2022) - LBank Exchange, a global digital asset trading platform, has listed HubCoin (HUB) on May 13, 2022. For all users of LBank Exchange, the HUB/USDT trading pair is now officially available for trading.Figure 1: HubCoin (HUB) Is Now Available for Trading on LBank ExchangeTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/8378/124039_hub.jpgHubber embeds smart contract technology into the gaming world and

FREEHOLD, N.J., May 13, 2022--Cenntro Electric Group Expands Global Production Capacity with Acquisition of Advanced Manufacturing Facility in China

FAYETTEVILLE, N.C., May 13, 2022--$83 Million Grocery-Anchored Shopping Center Sale in North Carolina Closed by Marcus & Millichap's Institutional Property Advisors

Let’s Make a Love Scene review – silly, sexy cosplay inspired by Swayze and Clooney. No one’s looking for love in this new dating show – they’re re-enacting steamy movies instead. But thankfully, it knows just how trashy it is

Moms open up to PEOPLE about the difficulty they’re having feeding their children as the nationwide baby formula shortage worsens

LOS ALAMOS N.M. (AP) — Public schools were closed and evacuation bags packed this week as a stubborn wildfire crept within a few miles of the city of Los Alamos and its companion U.S. national security lab — where assessing apocalyptic threats is a specialty and wildland fire is a beguiling equation. People preparing to evacuate included a team of scientists at Los Alamos National Laboratory who are tapping supercomputers to peer into the future of wildfires in the American West, where climate c

Jermell Charlo and Brian Castaño both fell agonizingly short of becoming the first undisputed super welterweight world champion when they fought to a split draw 10 months ago. Charlo (34-1-1, 18 KOs) takes on Argentina's Castaño (17-0-2, 12 KOs) for all four major 154-pound belts Saturday night in the famed outdoor tennis stadium in Carson, south of downtown Los Angeles. The action-packed first fight itself would be enticement enough: The vaunted Charlo was a 3-1 favorite with superior size and reach, but he had to scrap just to eke out a draw when Castaño put on a superb display of resourcefulness and tenacity.

Investors are studying an array of indicators for clues on how much further a brutal slide in U.S. stocks could run, with some signs suggesting the tumble in equities may not be over. The S&P 500 extended its decline to nearly 20% from January’s record peak on Thursday before an end-of-week bounce, approaching the cusp of a bear market amid concerns that persistently high inflation will prompt more aggressive Federal Reserve interest rate increases that could undermine the economy. Declines have been even steeper in the tech-heavy Nasdaq Composite, which is down 24.5% year-to-date.

Malaysia views U.S. President Joe Biden's proposed Indo-Pacific economic bloc as a welcome initiative but sees a bigger immediate opportunity in selling its access to a China-led trade pact to lure investment from global companies, Malaysia's trade minister said on Friday. The Biden administration's proposed Indo-Pacific Economic Framework (IPEF) aims to offer a U.S.-led platform for negotiating common regional standards around digital trade and data flows, labor standards, carbon emissions reductions and governance.

Rather than make his Citi Field debut against the team that traded him, Jarred Kelenic was demoted to Triple-A Tacoma by the Seattle Mariners on Friday after the team arrived in New York for a weekend series against the Mets. The 22-year-old outfielder was hitting .140 with three homers and 10 RBIs in 30 games. Mariners manager Scott Servais said Kelenic was not happy.

HELSINKI — Pierre-Luc Dubois scored twice and Canada overcame an undisciplined third period in a 5-3 win over Germany on Friday at the world hockey championship. Cole Sillinger, Kent Johnson and Noah Gregor also scored for defending champion Canada in its opening game of the tournament. Moritz Seider, the Detroit Red Wings defenceman recently named a finalist for the Calder Trophy as the NHL's top rookie, had a goal and two assists for Germany. Marc Michaelis and Matthias Plachta also scored whi

VICTORIA — The British Columbia government says it will spend nearly $800 million to build a new Royal Museum in Victoria. The current museum will close its doors in September, but will be offering travelling exhibitions and regional satellite displays in the province. Premier John Horgan says the museum needs to be brought into the 21st century and the new, $789-million building will be seismically safer, inclusive, accessible and modern. Melanie Mark, B.C.'s minister of tourism and the only Fi

WASHINGTON (AP) — President Joe Biden on Friday announced he's nominating one of his top national security aides as ambassador to the Association of Southeast Asian Nations, aiming to underscore his administration's commitment to the Pacific region. Biden announced his decision to nominate Yohannes Abraham, chief of staff to the White House National Security Council, to serve as the U.S. representative to the 10-country bloc as he wrapped up talks with leaders of ASEAN, who gathered in Washingto

The six-time major winner has been taking a break from golf.

Medicine Bundles, full of sexual health supplies and traditional medicines, made by and for Two-Spirit, queer and trans Indigenous people, have recently become available to Indigenous residents of what has been briefly known as British Columbia. Spearheaded by the Community-Based Research Centre (CBRC)’s Two-Spirit Program team, the Medicine Bundle Project is a three-month-long research initiative that allows people to order a specialized Bundle to an address of their choice. The bundles include

2021 Commercial Highlights, delivering accelerating commercial sales with stronger balance sheet.