VinFast celebrated its listing and commencement of trading of its shares on the Nasdaq Global Select Market under the ticker symbol VFS, with an equity value of over $23 billion.
VinFast’s public listing follows the completion of the business combination with Black Spade on August 14, 2023. VinFast became the largest Vietnamese company listed on the U.S. stock market by market capitalization.
The combined company will now operate as VinFast Auto Ltd. and continue to be led by VinFast CEO Le Thi Thu Thuy, who is supported by an experienced, diverse, and entrepreneurial senior management team. Black Spade will provide ongoing business advisory input for the growth of the brand and assist with direct investor engagement.
VinFast has delivered close to 19,000
EVs including the VF e34, VF 5, VF 8, and VF 9 models, as of June 30,
2023. It is also preparing for the upcoming launch of the VF 3, VF 6,
and VF 7 models in the Vietnamese and global markets. VinFast looks
forward to building upon its rapid expansion as the company rolls out
next-generation EVs and solutions, and carries out its strategy of
expanding its footprint globally.
The company has established a
strong foothold in its Vietnamese home market by rolling out its own
charging network spanning across 63 cities and provinces, and plans to
expand it further in the coming years. VinFast has also established a
company-owned retail and service network of over 122 VinFast stores
worldwide.
Additionally, VinFast is working to strengthen its
position in the global EV market by leveraging new partnerships with
distributors and dealers in select markets, including North America,
Europe, Vietnam, and Southeast Asia.
On July 28, 2023, VinFast
broke ground at its new EV manufacturing facility in the U.S. The event
marked a significant step toward its global expansion and supply chain
development in North America.
The bell-ringing event at Nasdaq
and listing in the world's largest capital market mark an important
milestone in VinFast's global expansion. It does not only provide
VinFast with more opportunities for future development but also leads
the way for other Vietnamese brands to play an increasing role in the
global economy.
