With this price, VinFast 's capitalization is at 13.06 billion USD, ranking 29th in the list of car manufacturers in the world, above many "giants" such as Volvo, Mazda, Isuzu...
Currently, VinFast stands right above Chinese car company Geely and behind Japanese company Subaru.
VinFast shares closed the trading session on November 2 at 5.06 USD/share, up 5.07%. (Screenshot)
Recently, VinFast's VF6 and VF9 models received the "Outstanding Popular Family Car" and "Trend-Leading Car" awards, respectively, at the Better Choice Awards 2023, held at the National Innovation Center (NIC) in Hoa Lac.
Rated excellently by leading car experts in the Final Judging Council compared to 8 "heavyweight" competitors, VinFast VF9 was named in the "Trend-Leading Car" category with 5,317 points. The score was compiled from 65,228 votes from consumers and 2,146 points from the Final Judging Council.
Second and third place respectively belonged to VinFast VF6 (4,989 points) and Lexus RX (4,652 points). The total scores are not too different, showing fierce competition in the most important category of Car Choice Awards under the Better Choice Awards 2023 system.
Previously, in response to AP , Ms. Le Thi Thu Thuy - General Director of VinFast Global - said that the US is a fiercely competitive market. However, VinFast is committed to accompanying the wave of countries that are trying to switch to electric vehicles to reduce emissions.
“Prioritizing the US market is a deliberate decision by VinFast, despite the strict regulations it faces here. We want to build our reputation in this challenging market. Our reason is simple: customers will trust VinFast if the company succeeds in the US market. To some extent, this will be a “seal of approval” for VinFast’s success, although achieving this is not easy,” said Ms. Thuy.
AP also recalled the event of VinFast listing shares on the Nasdaq exchange in mid-August and noted that at many times, the stock value more than doubled to a peak of 82.35 USD/share, helping VinFast's capitalization surpass both General Motors Corp and Ford Motor Co at that time.
VinFast has affirmed its strong commitment to the US market as it is building a multi-billion dollar electric vehicle factory in Southwest Raleigh, North Carolina, which is expected to go into production next year.
In terms of future plans, VinFast began delivering cars in Europe this year and is targeting new markets in Southeast Asia, India and the Middle East, announcing a $400 million investment in factories in Indonesia and India. The company also aims to expand to 50 markets globally by 2024.
AP commented that VinFast's strong development goal is considered to be in line with Vietnam's economic development plan when turning the automobile industry into a pillar of the economy. The company's factory in Hai Phong covers an area of 335 hectares and was completed in less than 2 years, with a current capacity of 250,000 electric vehicles per year.
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