VinFast Ranks Third in Global Automaker Valuation

author: FutureCar Staff    

VinFast, the Vietnamese car brand, has become the third-most valuable automaker globally. After a 21 percent surge in its stock, VinFast's market value has more than quadrupled to $160 billion. This places it behind only Tesla and Toyota in terms of market value, surpassing giants like Volkswagen, Ford, and General Motors.

However, VinFast's stock is prone to volatility due to the small amount of publicly available shares. In the past 12 trading sessions, the price has fluctuated by more than 14 percent in 11 of them.

The Southeast Asian carmaker debuted on the Nasdaq stock market in August after completing a SPAC merger with Black Spade Acquisition Company. VinFast's shares closed at $37.06 on the first day of trading and reached $82.35 yesterday.

Pham Nhat Vuong, the founder of VinFast and Vietnam's wealthiest man, controls approximately 99 percent of the company. The majority of shares are not available to investors, making the founder the biggest beneficiary of the recent stock surge.

VinFast currently sells the VF 8 five-seat all-electric crossover in the US and plans to start deliveries of its three-row VF 9 SUV later this year. The company faced delivery delays in the first half of the year but eventually began delivering its vehicles.

However, VinFast only delivered 151 EVs in the US in the first six months, according to Experian. The company has plans to build a factory in North Carolina, with production set to begin in 2025.

FutureCar Staff