At the opening of the trading session on October 18 on the US Nasdaq stock exchange (8:35 p.m. October 18, Vietnam time), VinFast Auto shares (VFS) reached a price of 6.22 USD/share, down 3.72% compared to the previous session.
At the current price, VinFast Auto's capitalization is at 14.5 billion USD, lower than the listing price on August 15 when merging with Black Spade (23 billion USD).
VinFast's capitalization is currently ranked 27th in the list of car manufacturers in the world .
In the pure electric vehicle ranking list, VinFast Auto continues to be in 5th place, below Tesla and Rivian of the US, and above some small electric vehicle manufacturers from China and the US.
Previously, at the end of the trading session on the US Nasdaq stock exchange on October 17 (US time), VFS shares reached a price of 6.46 USD/share, down 0.07 USD (-1.07%).
Responding to Bloomberg TV about VinFast acquiring Ford's factory in India, CEO Le Thi Thu Thuy said the company has considered many options and has narrowed them down to three options for discussion. At the same time, VinFast is still in the process of discussing specific plans with the Indian government and the company will announce them when it has more details.
Regarding the question of whether VinFast needs to raise more capital, Ms. Thuy said that in the next 18 months, VinFast will still receive financial support from Vingroup and the group's chairman, so the company still has enough resources to carry out its business plans.
But like any other business, VinFast is always looking for opportunities to raise capital after listing. The company is talking to many investors to raise capital for global development goals.
Responding to Bloomberg's question about the possibility of breaking even by the end of 2025, VinFast's leaders affirmed that the past years have been a period of focusing on building the foundation and laying the groundwork for VinFast.
VinFast has invested heavily in seven models that have been launched on the market as well as manufacturing plants in Vietnam. In addition, VinFast has large-scale production centers located in low-cost facilities.
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