Top Stock Market News For Today November 22, 2021

Stock Market Futures Ticked Higher Ahead Of The Holiday-Shortened Week

U.S. stock futures edged higher on early morning Monday, pointing to a positive start for the stock market this week. Adding optimism to the bull market is the possible easing measures by China’s central bank to support the slowing economy. With the holiday season at our door, do note that the U.S. market will be closed on Thanksgiving Day. Against the backdrop, the biggest market moving event is likely going to be President Joe Biden’s nomination for the next Federal Reserve chief.

I do think in the shortened week, that is probably going to be the biggest driver of market action,” said Jeff Schulze, ClearBridge Investments investment strategist. “If Brainard is nominated as Fed chair, it wouldn’t be a surprise to me to see some near-term volatility. Usually, the market tests a Fed chair.

Meanwhile, cloud-based telecom company Vonage (NASDAQ: VG) stock soared in pre-market trading after agreeing on a $6.2 billion deal to be bought by Ericsson (NASDAQ: ERIC). As of 7:08 a.m. ET, the Dow, S&P 500, and Nasdaq futures are rising by 0.30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, 0.32{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, and 0.98{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} respectively

Monster Beverage (MNST) Exploring Merger Deal With Constellation Brands (STZ)

Energy drinks maker Monster Beverage (NASDAQ: MNST) is exploring a merger deal with Constellation Brands (NYSE: STZ), according to a report from Bloomberg news. The exact structure of the potential merger is yet to be available to the general public. Of course, a deal between these two beverage giants could be interesting. But, investors shouldn’t speculate on such rumors as it is still unclear if the deal would eventually materialize. 

Despite the supply chain challenges, Monster Beverage reported record third-quarter sales earlier this month. The energy drinks maker, which has Coca-Cola (NYSE: KO) as its major shareholder, will need to assess if such a merger could bring any positive synergy. Right now, it’s unclear if such a deal could jeopardize Monster’s exclusive distribution agreement with Coca-Cola. And if it does, it could affect Monster’s international growth ambitions. 

I see little synergy between these two companies, as regulators would not welcome drinks that combine caffeine and alcohol. The products produced would have to leverage their respective brands but be mindful of the limitations with product formulations”- Kenneth Shea, Senior Analyst for beverage and tobacco companies at Bloomberg Intelligence.

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Ford (F), Rivian (RIVN) Cancel Plans To Jointly Develop An EV

Ford (NYSE: F) and Rivian (NASDAQ: RIVN) no longer plan to co-develop an electric vehicle, the companies confirmed Friday evening. The two companies initially announced development of a joint vehicle when Ford invested in the EV start up in 2019. With the plan scrapped, some electric vehicle stock investors are wondering what the impact of the decision is. 

According to Ford CEO Jim Farley, part of the breakup was due to the complexities of marrying their hardware and software together. In light of this, the company also reiterated that such a decision has not affected their relationship. Ford continues to believe in the company’s future, retaining a 12{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} stake in the EV start-up. The legendary automaker aims to produce 600,000 vehicles per year by the end of 2023. What’s more, Ford has several interesting products including the Mustang Mach-E SUV and the F-150 Lightning pickup truck. If anything, the old dog seems to be learning new tricks quickly. 

The decision to cancel the joint development was mutual, according to Rivian. “As Ford has scaled its own EV strategy and demand for Rivian vehicles has grown, we’ve mutually decided to focus on our own projects and deliveries. Our relationship with Ford is an important part of our journey, and Ford remains an investor and ally on our shared path to an electrified future,” the company said in an email statement.

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Zoom (ZM) Reports Earnings After The Closing Bell 

Zoom Video Communications (NASDAQ: ZM) will report its earnings after the stock market closes today. There’s no question that ZM stock has been under pressure heading into that announcement. Investors are less enthusiastic about the company’s short-term growth as more people return to the office. In addition to that, the increased competition from other players in the video conferencing space may unnerve some investors. In light of all this, it shouldn’t come as a surprise that ZM stock remains under considerable selling pressure.

From its second quarter, sales came in 54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} higher year-over-year to $1.02 billion. Now, Wall Street is expecting the same revenue level when it reports today, with non-GAAP earnings of $1.07 to $1.08 per share. It’s also worth keeping an eye on how quickly customers are taking up new offerings like Zoom Phone, the company’s cloud-based telephony business. In addition to that, investors will also focus on the company’s operating margin. The profitability metric came in at 25{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of sales in the second quarter. And investors are hoping to see a modest boost later today. 

Admittedly, the pandemic acted as a huge catalyst for the company in 2020. But it’s normal for investors to be concerned about its ability to maintain its impressive growth rate. The company, however, is reportedly looking to diversify its revenue stream by entering the contact center market. Nevertheless, for ZM stock to rebound to its previous high, Zoom will have to issue a strong outlook for its business. That includes the new initiatives, which are critical to growing and maintaining its ecosystem. 

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Earnings To Watch In The Stock Market Today

If investors have been worried that inflation, supply chain and labor shortages would dampen corporate profits, they’ve been wrong so far. And bullish investors continue to gain from the strong corporate earnings thus far. As the market enters the holiday-shortened week, there’s no shortage of companies reporting their earnings. In the pre-market hours, we have Cerence (NASDAQ: CRNC), Niu Technologies (NASDAQ: NIU), Avaya (NYSE: AVYA), and Zhihu (NYSE: ZH), just to name a few.

Alternatively, for those anticipating the earnings after the closing bell, there are notable tech names reporting as well. Amongst them are Zoom Video Communications, Agilent Technologies (NYSE: A), Keysight Technologies (NYSE: KEYS) and Arrowhead Pharmaceuticals (NASDAQ: ARWR). Whether it is following corporate news, keeping up with earnings, or speculating who the next Fed chair is, there is enough to keep you occupied as we kick start the holiday-shortened week.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Bengals vs Raiders injury report, spread, over/under, schedule, live Stream, TV channel

The BYE week couldn’t have come sooner for the Cincinnati Bengals, who were spiraling downward after a 5-2 start. The stripes now find themselves with a record of 5-4 and facing a team with a similar story.

The Las Vegas Raiders also started the season 5-2 and have dropped their last two games, now sitting at 5-4. They played a close, but frustrating game against the lackluster Giants and then were blown out on Sunday Night Football by the Chiefs.

That’s why this Week 11 matchup between the Bengals and Raiders is so compelling. Both teams are desperate for a win and to not drop to 5-5 after such a hot start to the season.

Bengals Injury Report vs Raiders Week 11

The following players have been ruled as QUESTIONABLE for today’s game:

DT Tyler Shelvin

WR Auden Tate

Auden Tate Injury Update

It’s a good sign for Cincinnati when the most notable injured player heading into this game is a fourth-string wide receiver. Be that as it may, if the Bengals incorporated Auden Tate more, him potentially missing this game would be more detrimental.

Fortunately, Tate had a full practice on Thursday and Friday and should hopefully be good to go for the contest in Vegas.

Bengals vs Raiders Odds, Spread, Over/Under & Betting Pick Week 11

WynnBET has the Bengals as 2.0-point favorites on the road in Sin City. The moneyline for Cincinnati is -130 while the moneyline for Las Vegas is +104. The over/under is set at 50.5 points.

This game really could go either way. Both of these teams are desperate for a win after how their last two games have gone so as cheesy as it sounds, it’ll come down to who wants it more. The Bengals are mostly healthy but their offensive line could struggle against Max Crosby and the Raiders’ pass-rush.

Be that as it may, this team is too talented to lose to a Raiders team that has way too many problems right now. Let’s go with a 34-27 Bengals victory.

WynnBET Promo: Bet $1, Win $100 if any NFL or college football team scores. Claim offer now. 

What Channel is the Bengals Game on Week 11

This week’s game can be viewed on CBS. Ian Eagle and Charles Davis are on the call for this AFC showdown.

Bengals vs Raiders Live Stream

Today’s game can be live-streamed on FuboTV. Start a free 7-day trial!

Bengals Next Game and Schedule

After this game, the good guys return home to the confines of Paul Brown Stadium for three straight home games before hitting the road again. Here are the next four games on the schedule.

Week 12 vs Pittsburgh

Week 13 vs LA Chargers

Week 14 vs San Francisco

Week 15 @ Denver

 

Does diet influence dementia risk? What we know

Dementia is a leading cause of disability and death worldwide. There is no cure. Recent research has focused on whether diet might influence the risk and progress of dementia. In this Special Feature, Medical News Today assesses the evidence and looks at how you might help reduce your risk of dementia.

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What does the latest research say about the link between diet and dementia risk? We investigate. Image credit: Luis Manuel Matias/Addictive Creative/Offset

According to the World Health Organization (WHO), dementia affects more than 55 million people worldwide, with 10 million people receiving a diagnosis each year. About 60-70{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of people globally with dementia have Alzheimer’s disease, which affects almost 6 million people in the United States.

It may be the third leading cause of death after cancer and heart disease in certain age groups.

With an aging global population, the WHO predicts that the number of people with dementia will rise to 78 million by 2030 and 139 million by 2050.

According to existing research, diabetes, obesity, and heart disease, which can increase the risk of developing dementia, are all rising in number.

The main symptoms of dementia are memory problems, loss of cognitive function and coordination, and personality changes. The most significant risk factor for dementia is aging — more than 90{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of people with dementia are over 65 — but other factors are also involved.

There is currently no cure for dementia, and most treatments alleviate symptoms without slowing the progress of the disease. So are there ways reduce to reduce this risk?

Keeping fit and healthy can reduce the risk of dementia — and diet is a large part of keeping fit.

In a comment for MNT, Dr. Christopher Weber, director of global science initiatives at the Alzheimer’s Association, noted that:

“Research looking at the relationship between diet and cognition is well-established. There is strong evidence to suggest that what is good for the heart is good for the head, and we know a healthy diet is good for the heart.”

Some studies have suggested that a Mediterranean diet can improve cognitive function. This diet includes plenty of fruit and vegetables, nuts and seeds, olive oil and fish, with small amounts of dairy, eggs, and red meat, together with a moderate amount of red wine.

Recent research showed that a Mediterranean diet has associations with improved cognitive functioning and slowed the progression from mild cognitive impairment to dementia.

An alternative to the Mediterranean diet is the MIND diet (Mediterranean-DASH Intervention for Neurodegenerative Delay). The diet is similar but focuses on green leafy vegetables, other vegetables, nuts, berries, beans, whole grains, seafood, poultry, olive oil, and wine.

This diet highlights the importance of foods and nutrients that have an association with dementia prevention.

A problem with diet studies is that they are observational, and people usually assess their diet through self-reported questionnaires. However, researchers have demonstrated an association between these diets and improved cognitive function.

One study showed a substantially slower cognitive decline in those following the MIND diet. A 2021 study found a positive correlation between MIND diet score, cognitive resilience, and cognitive function.

Interestingly, the researchers found that improved cognitive function was independent of brain pathologies that post-mortems identified in participants.

Dr. Weber commented: “The Mediterranean diet and the MIND diet have been shown in clinical studies to be beneficial to brain and heart health. The Alzheimer’s Association encourages everyone to eat a healthy and balanced diet as a way to help reduce the risk of cognitive decline.”

Processed food is one of the current bad guys. Experts tell us to eat a balanced and varied diet containing plenty of fresh food to stay healthy. But could a diet high in processed food increase your dementia risk?

“There is […] strong evidence linking poor diet (for example, eating a diet high in unhealthy fats and sugar) and increased risk for dementia.”

– Dr. Christopher Weber

In animal models, a diet high in refined carbohydrates increases the risk of dementia and Alzheimer’s. A human study in France replicated this effect and confirmed that older participants who ate a daily snack high in refined carbohydrates were more likely to develop dementia.

Another study has linked processed meat products, such as sausages, salami, and bacon, with dementia. Regular consumption of processed meat increased the relative risk of all dementias by 44{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and Alzheimer’s disease by 52{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.

However, like all the other dietary studies, this was observational and the risks reported are relative rather than absolute. One expert commented that the results “would not persuade me to give up my breakfast bacon.”

Proponents of vitamin and mineral supplements often tout them as a way of compensating for a less than optimal diet, but is there any evidence that they might help combat dementia?

A recent study gave older male rats a processed food diet high in refined carbohydrates and found that their learning and memory skills suffered. Another group of rats on the same diet but with omega-3 supplements showed no memory problems.

The authors of the study explained their findings in terms of the inflammatory response provoked by processed foods. Scientists know that omega-3 resolves inflammation, which might explain the effect in the rats who received it.

However, there is little other evidence to suggest that supplements affect dementia. The WHO advises that a healthy diet and regular exercise will likely have more significant effects.

The link between alcohol and dementia is not entirely clear. While heavy alcohol consumption has strong associations with the development of dementia, the effect of moderate alcohol intake is still open to question.

The majority of studies show an association between low to moderate alcohol use and reduced risk of dementia, particularly for red wine drinkers.

Two systematic reviews, one of which analyzed results from 26 studies, concluded that reducing heavy alcohol use could be an effective dementia prevention strategy.

However, they also noted that those who abstained from alcohol entirely had a higher dementia risk than those who drank in moderation.

Therefore, it is possible that drinking in moderation may have some protective effect, but no observational study can exclude all other factors. It may be that those who drink moderately have a better diet, do more exercise, or are generally in better health.

One study into the effects of moderate drinking in older adults in New Zealand controlled for socioeconomic status but found no evidence for a link between moderate drinking and better health.

So perhaps that protective effect is just wishful thinking from those of us who enjoy an occasional drink!

Research has linked memory decline with inflammation, and this is an area that is attracting a lot of interest.

According to Prof. Tim Spector, Professor of Genetic Epidemiology, King’s College London and Zoe Study lead, “This fits with the ‘inflammaging’ theory that is gaining a lot of traction.”

There are links between inflammation and the gut microbiome. Several clinical studies have seen an association between the gut microbiome and dementia.

One cross-sectional study in Japan found a significant difference between the microbiome of people with dementia and those without the disease.

Those with dementia had a much lower number of Bacteroides, a species known to reduce inflammation. They also had much higher numbers of microbes (enterotype III) that have associations with dementia.

Two other studies back up these findings. One analyzed gut microbiome metabolites, finding that people with dementia had significantly different metabolites from those without the disease.

A second stressed the links between the gut microbiota and dementia development, observing effects on the microglia and cytokine release, which have implications in inflammation and dementia.

“There are large numbers of studies that are pointing in the same direction. People with dementia have sub-optimal microbiomes. The picture is of not only reduced numbers of species but also increased numbers of inflammatory species.”

– Prof. Tim Spector

The gut microbiome and diet have links, and this could be why the Mediterranean and MIND diets have shown positive effects in reducing dementia risk and progression.

“Reduced [microbiome] diversity and [more] inflammatory species are related to poor diet, generally low in fiber and diversity of plants,” Prof. Spector told us. “With elderly people, there’s often a tipping point, such as losing a partner. The diet reduces in quality and diversity. That can accelerate cognitive decline.”

He did, however, stress that there may be a reverse causality. People in the early stages of cognitive decline might reduce the quality of their diet and thereby accelerate the process.

“Studies of centenarians have found that they generally live in areas with a good food culture and lots of socializing,” he added. “It’s not about fats. It’s not about carbohydrates or calories, but can you get fresh, varied food? You need your gut microbes to keep your immune system suppressing inflammation?”

The short answer is probably; that diet may well play a part. Evidence is growing that a varied diet rich in plants will support a varied gut microbiome. And a varied gut microbiome helps to reduce the inflammation implicated in dementia.

“Poor diet harms microbes, which harms the immune system with these knock-on effects of cognitive decline. In dementia, inflammatory aging is the current theory. It’s partly triggered by the immune system which involves the microbes and diet.”

– Prof. Tim Spector

So until randomized control trials can prove how diet influences dementia, it is probably best to eat a diet that reduces the risk of heart disease and supports your microbiome, combining it with regular exercise.

The jury is still out on moderate alcohol consumption, but there is clear evidence that too much alcohol increases the risk of many health conditions, including dementia.

Dr. Weber concluded: “While we continue to learn more about lifestyle factors that have the greatest impact on our overall risk, there are things we can do today that may decrease our risk of cognitive decline as we age. Eating a heart-healthy diet, exercising regularly, and staying cognitively engaged are just a few.”

Lanvin Group Unveils New Brand Identity

SHANGHAI, Nov. 21, 2021 /PRNewswire/ — Lanvin Group (the “Group”), the global luxury fashion group, today officially unveiled its new brand identity following the change of its name from Fosun Fashion Group. The adoption of the globally recognizable Lanvin brand as its new name represents a clear statement of the Group’s intent to build a global portfolio of iconic luxury fashion brands.

The new brand identity, which includes a modernized logo and a new group website, www.lanvin-group.com, accords Lanvin Group a fresh look to express its commitment both to its heritage and to its determination to be an innovator in the global luxury market. The history of Lanvin traces back to 1889 when Madame Jeanne Lanvin founded what remains today the oldest operating French luxury couture house. A true pioneer and visionary, Madame Lanvin’s strength of character, creativity and flair remain as relevant to the Group today as it did when she founded the brand.

Lanvin Group has a mission to continue Jeanne Lanvin’s tradition of innovation and obsession for excellence. The rebrand epitomizes Lanvin Group’s continued endeavor to create an inclusive ecosystem that empowers heritage brands, nurtures diverse talents, and celebrates ingenious ideas. It will guide the Group’s growth path as it pursues its objective to preserve the essence of legacy brands yet transform them for tomorrow.

This new brand identity provides the Group’s portfolio brands a shared platform with a singular focus to fully express their creativity, unleash their potential, and reinvigorate long-term growth. Lanvin Group will continue to set new standards and push new boundaries through strategic investments, and by providing operational support for brands, together with unparalleled access to the fastest growing luxury fashion markets in the world.

Ms. Joann Cheng, Chairman of Lanvin Group, said: “We are excited to reveal Lanvin Group’s new brand identity which reflects our ongoing development as one of the world’s fastest-growing luxury groups. Lanvin has always been synonymous with luxury fashion. This new identity speaks to our strong belief in authenticity, creativity, craftsmanship, innovation and inclusivity on a shared platform. We see tremendous potential for Lanvin Group and its growing portfolio of brands to expand as the global luxury industry continues to show robust growth, both in Western markets as well as the fast-growing China market.”

Lanvin Group’s portfolio of prestigious heritage brands include French couture house Lanvin, Italian luxury shoemaker Sergio Rossi, Austrian skinwear specialist Wolford, iconic American womenswear brand St. John Knits, and high-end Italian menswear maker Caruso. These five brands have over 390 years of combined history and have far-reaching global presence in more than 60 countries with more than 1,200 points of sales, 290 retail stores and 3,600 employees across the world.

About Lanvin Group

Lanvin Group, formerly known as Fosun Fashion Group, is the leading global luxury fashion group rooted in China, managing iconic brands worldwide including Lanvin, Sergio Rossi, Wolford, St. John Knits, and Caruso. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world.

For more information, please visit our new website: www.lanvin-group.com.

SOURCE Lanvin Group

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https://www.lanvin-group.com/

Tucker Carlson’s ‘Patriot Purge’ Special Leads Two Fox News Contributors to Quit

For his part, Mr. Goldberg said he has been thinking about William F. Buckley, the late founder of National Review, who saw as part of his mission “imposing seriousness on conservative arguments” and purging some extreme fringe groups, including the John Birch Society, from the right.

“Whether it’s ‘Patriot Purge’ or anti-vax stuff, I don’t want it in my name, and I want to call it out and criticize it,” Mr. Goldberg said. “I don’t want to feel like I am betraying a trust that I had by being a Fox News contributor. And I also don’t want to be accused of not really pulling the punches. And then this was just an untenable tension for me.”

Now, their views have put them outside the current Republican mainstream, or at least outside what mainstream right-wing institutions and politicians are willing to say out loud. But while in recent years both appeared occasionally on the evening show “Special Report” and on “Fox News Sunday,” which the network classifies as news, it’s been years since they were welcome on Fox’s prime time, and Mr. Goldberg clashed bitterly with the prime-time host Sean Hannity in 2016. (Mr. Hayes and Mr. Goldberg emailed their readers Sunday to announce their departure.)

Despite the former contributors’ hopes, Fox’s programming has hewed to Mr. Trump’s line, as have its personnel moves. The network, for instance, fired the veteran political editor who accurately projected Mr. Biden’s victory in the key state of Arizona on election night, and has hired the former Trump White House press secretary Kayleigh McEnany.

Mr. Hayes and Mr. Goldberg are the first members of Fox’s payroll to resign over “Patriot Purge,” but others have signaled their unhappiness. Geraldo Rivera, a Fox News correspondent since 2001, captured the difficulty of internal dissent at the network when he voiced cautious criticism of Mr. Carlson and “Patriot Purge” to my colleague Michael Grynbaum. “I worry that — and I’m probably going to get in trouble for this — but I’m wondering how much is done to provoke, rather than illuminate,” he said.

On air, two programs with smaller audiences than Mr. Carlson’s scrambled after his special to rebut the false theories presented in “Patriot Purge.” “Special Report” called in a former C.I.A. officer on Oct. 29 to debunk “false flag” theories. And on “Fox News Sunday,” Chris Wallace turned the same question over to one of Mr. Trump’s few foes in the Republican congressional delegation, Representative Liz Cheney of Wyoming.

Mr. Carlson called Mr. Hayes’s and Mr. Goldberg’s resignations “great news” in a telephone interview on Sunday. “Our viewers will be grateful.”

Vietnam’s VinFast shows off two EVs at 2021 Los Angeles Auto Show

LOS ANGELES — Vietnamese startup VinFast debuted two electric concepts here, officially launching its global brand in the U.S.

The crossovers shown Wednesday are previews of upcoming models:

  • The midsize VF e35, with ranges of 285 and 301 miles.
  • The full-size, three-row VF e36, with ranges of 301 and 422 miles.

The crossovers are equipped with smart infotainment, including in-car control features such as a voice assistant, a virtual assistant and e-commerce services, to name a few.

Pricing will be announced in spring.

Michael Lohscheller, CEO of VinFast, told Automotive News that the company is anchored by three key pillars: providing consumers with an appealing world-class product, reasonable pricing and great customer service, which will include a mobile customer team.

“With this product quality, reasonable price and great service, we think we have a good electric offering,” said Loscheller.

As part of its product strategy, VinFast will allow customers to lease the vehicles’ batteries, helping alleviate concerns about them becoming outdated. The e35 and e36 will come with a 10-year warranty, which will cover the battery as well. In addition, the company plans to make a robust charging station strategy part of its product plan in the U.S.

“In Vietnam, VinFast is building 40,000 charging stations just because everybody is realizing if you don’t have a charging station, electrification will not take off like we all in the industry think,” said Lohscheller.

VinFast’s distribution strategy will include its own stores, with plans to open 60 in California, adopting a U.S. retail sales strategy similar to Tesla’s.

“We want to provide an outstanding customer service to our customers,” Nguyen Van Anh, CEO of VinFast US, told CNN Business on Wednesday. “So we want to control the customer journey from A to Z.”

To help position the brand in the U.S., VinFast plans a series of special events in the coming months.

A major component of its U.S. marketing strategy includes targeting consumers beyond today’s typical EV buyers and positioning the company as an inclusive brand when it comes to electrification.

Its product strategy includes building a production plant in the U.S. in the second half of 2024.

“When you launch a new brand, you have to get it right,” said Lohscheller. “You have this opportunity only once … to get the brand right, position the brand right, work on the image. I do think we have great cost and attractive pricing, but at the end of the day, very few people know VinFast … and so to build this brand awareness and to translate that into consideration and purpose, that’s the key.”

VinFast, which plans to expand to Europe and Canada in the coming months, expects to open its U.S. order banks for the VF e35 and VF e36 in the spring, with deliveries expected to begin in the fourth quarter of next year.

VinFast, established in 2017, is part of Vingroup, one of the leading private conglomerates in Southeast Asia. Vingroup, founded in 1993, reported a total capitalization of $35 billion, from three publicly traded companies, as of Nov. 4, with a current focus on three main areas: technology, industry and services.