Only half a month after VinFast, Vietnam's first electric car brand, went public in the US, its stock price surged by over 700%, propelling its market value to 160 billion USD, making it the third largest car manufacturer globally, behind only Tesla and Toyota.
Amid the rise of the electric vehicle trend, VinFast has not only delved into the local market, but has also established factories in the US last year and launched a variety of models. It also invested in battery research and development, automatic parking and other new technologies to target the global market.
VinFast was founded in 2017 and is headquartered in Hanoi. It declared as a "pure electric vehicle manufacturer" in the end of 2022. Within just 6 years, VinFast has successfully developed 7 electric vehicles, 8 electric motorcycles and 1 electric bus named VinBus.
