VFS shares of electric car company Vinfast opened the trading session on August 24 (US time) with a breakthrough increase. Specifically, VFS jumped to a peak of 55 USD/share in just 30 minutes, equivalent to an increase of 45%. After that, this code adjusted to trade around 43 USD/share.
At the current price, VinFast's market capitalization has officially surpassed the 100 billion USD mark to 104 billion USD. This figure also helps the electric car company from Vietnam enter the top 3 largest capitalized car manufacturers in the world, surpassing supercar manufacturers Porsche and Mercedes. At the same time, VinFast ranks 2nd in capitalization among electric car companies in the world and is only behind Tesla.
Thus, VinFast's capitalization is now double the total capitalization value of the two Vietnamese stock exchanges, HNX and UPCOM, combined. At the end of the session on August 23, the capitalization of HNX was more than VND288,000 billion while UPCoM was VND924,000 billion, totaling VND1.2 million billion, equivalent to nearly USD52 billion.
Thanks to the sharp increase in stock prices, the total assets of billionaire Pham Nhat Vuong - Chairman of Vingroup - increased by 9.4 billion USD to 41.7 billion USD. He is currently the 28th richest person in the world (according to data from Forbes).
Recently, VinFast CEO Le Thi Thu Thuy had a live interview on CNN. During the interview, Ms. Thuy shared for the first time details about the production capacity of the factories, the number of orders, and future funding opportunities of VinFast.
Accordingly, the US Environmental Protection Agency (EPA) has certified a minimum travel distance of 330 miles for the Eco version (about 531 km) and 291 miles for the Plus version (more than 468 km) after each battery charge for VinFast's VF 9 electric car model. This parameter has exceeded the company's initial announcement.
"This affirms the continuous effort to improve product quality to bring the best experience to customers" - Ms. Le Thi Thu Thuy said.
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