Speaking live on Bloomberg TV on the morning of October 16th, Ms. Le Thi Thu Thuy, CEO of VinFast, stated that after achieving its growth targets, VinFast's share price will gradually stabilize.
"Currently, only about 1% of the shares are floating on the market. However, as the company announced two weeks ago, approximately 76 million shares have been registered for circulation, which will help increase the liquidity of VFS shares. VinFast is also in the process of working with and expanding its relationships with investors to issue more shares on the stock market," Ms. Thuy revealed.
During the interview, the CEO of VinFast also shared her assessment of the current Southeast Asian market. According to Ms. Thuy, this is a very promising market because the proportion of electric vehicles is still very low. Furthermore, governments in these countries have set very positive targets for the market. Therefore, VinFast will have many advantages in expanding its business to this region.
More specifically regarding market expansion plans, Ms. Thuy informed that VinFast is aiming to expand to 50 markets by the end of 2024. These include Indonesia and India, along with previously announced markets such as the US, Canada, the Netherlands, Germany, France, and many other markets currently under consideration.
Regarding the Indian market specifically, Ms. Thuy shared that the company is considering many options and has currently narrowed them down to three choices for discussion regarding factory construction. Simultaneously, VinFast is in discussions with the Indian government about specific plans and will announce more details when available.
Regarding the financial support from Vingroup and Chairman Pham Nhat Vuong, Ms. Thuy stated that, thanks to this funding, the company will have sufficient resources to implement its business plans over the next 18 months. However, like any other business, VinFast is always seeking opportunities to raise capital after listing. Currently, the company is in discussions with many investors to raise funds for its global development goals.
Previously, Vingroup announced that Mr. Pham Nhat Vuong had gifted 99.8% of VinES Energy Solutions Joint Stock Company to VinFast. After the merger, VinFast will have self-sufficiency in battery technology – a crucial component of electric vehicles – and will also control the production chain, increasing its competitive advantage in the market. VinES will be merged into VinFast to proactively manage technology and concentrate resources to strengthen research and development of batteries for VinFast's electric vehicle lines.
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