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HomeAUTOVinFast electric vehicle: From a startup to World's number 3 carmaker, check...

VinFast electric vehicle: From a startup to World’s number 3 carmaker, check out the journey

VinFast electric-vehicle startup: The Vietnamese electric-vehicle startup, VinFast Auto Ltd., has garnered considerable focus due to its stock price surging over 688% since its initial appearance through a SPAC listing in August. VinFast is the unprofitable Vietnamese EV-maker owned by the country’s wealthiest individual made its debut on the Nasdaq Global Select Market index on August 15.

VinFast electric-vehicle startup: valuation surpasses the combined worth of Ford and Morris Garages

VinFast is currently valued at just under $200 billion(₹8,264,165,400.00). This valuation surpasses the combined worth of Ford and Morris Garages, positioning VinFast behind only Toyota Motor Corp and Tesla Inc. car manufacturers. A normal startup get listed in the World’s number 3 carmaker.

Nevertheless, experts are advising investors to be cautious about the potential risks associated with relying on further progress. The regulators and exchanges both have already voiced worries regarding the instability of such stocks. Nasdaq Inc. has intensified its examination of initial public offerings by small-cap enterprises, and the Securities and Exchange Commission has committed to probing unusual market shifts.

Scarcity emerges as the primary factor

Regulatory filings reveal that Vietnam’s wealthiest individual, Pham Nhat Vuong, holds sway over 99% of the company’s outstanding shares. Only 1% of VinFast’s shares accessible for trading.

According to the Bloomberg’s calculations of General Motors Co.’s 2022 sales, VinFast’s projected units sold this year amount to less than 1%.

Also Read: BMW CE 04: BMW electric scooter showcased in India, could launch soon as the most expensive electric scooter

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