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Who Would Have Thought That a Relatively New Company from Vietnam, in the Automotive Scene, Would Become the Third Most Valuable Automaker in the World? We Are Talking About VinFast, an Automaker That Has Been Making Waves, Especially When It Comes to Electric Vehicles.
VinFast is not just a storyteller; it is a manufacturer of narratives in the financial market. After its triumphant debut on Wall Street, the company saw its stock prices rise and plummet dramatically. Volatility is an aspect that has accompanied the company, but this has not prevented it from recently reaching a market value of $160 billion.
VinFast vs. Traditional Giants
It is not easy for a newcomer like VinFast to compete with giants like Tesla, GM, Ford, and other traditional automakers. However, its goals are ambitious: to conquer territories in the United States and European markets. This is made clear with the announcement of a $4 billion factory being built in the United States.
The Plan for Electric Vehicles
When it comes to electric vehicles, VinFast has even grander plans. The company expects to sell up to 50,000 electric vehicles this year, representing an almost sevenfold increase compared to 2022. Still, it is a company that needs to prove its worth; especially since its first batch of cars in the U.S. faced challenges such as delays and proposal reductions.
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The Financial Bubble
The story of VinFast is so incredible that it raises the question: Are we facing a “bubble” in the financial market? Analysts point out that the small percentage of shares available to the public (only 0.3% on Nasdaq) could be inflating its true value. The founder, Pham Nhat Vuong, holds 99.7% of the shares, a fact that only heightens speculation.
