{"id":247905,"date":"2023-08-17T11:59:09","date_gmt":"2023-08-17T11:59:09","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=247905"},"modified":"2023-08-17T11:27:42","modified_gmt":"2023-08-17T11:27:42","slug":"vinfast-electric-vehicle-manufacturer-outshines-industry-giants","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/vinfast-electric-vehicle-manufacturer-outshines-industry-giants\/","title":{"rendered":"VinFast Electric Vehicle Manufacturer Outshines Industry Giants"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bnreport.com\/en\/\"><strong>BNR<\/strong> <\/a>&#8211; VinFast, the Vietnamese electric vehicle (EV) manufacturer, made a spectacular entrance into the stock market. It quickly surpassed the valuations of established auto giants <a href=\"https:\/\/www.ford.com\/\">Ford<\/a> and General Motors (<a href=\"https:\/\/www.gm.com\/\">GM<\/a>) on its debut day of trading.<\/p>\n<p style=\"text-align: justify;\">The day\u2019s trading concluded with shares in VinFast closing above $37 each during its New York debut. This propelled the company\u2019s stock market valuation to an impressive $85 billion, a significant leap compared to Ford\u2019s $48 billion and GM\u2019s $46 billion.<\/p>\n<p style=\"text-align: justify;\">This soaring valuation unfolded as automotive behemoths engage in a fierce battle for a stake in the burgeoning EV market. VinFast\u2019s initial public offering (IPO) added $39 billion to the net worth of its chairman, <a href=\"https:\/\/www.forbes.com\/profile\/pham-nhat-vuong\/?sh=739dbf5e382e\">Pham Nhat Vuong<\/a>. Nhat Vuong was already recognised as Vietnam\u2019s wealthiest individual.<\/p>\n<h1 style=\"text-align: left;\"><strong>Founder\u2019s Control and Limited Shares<\/strong><\/h1>\n<p style=\"text-align: justify;\">The visionary exercises substantial control over VinFast, possessing 99% of the firm\u2019s outstanding shares, primarily through Vietnam\u2019s conglomerate, Vingroup JSC.<\/p>\n<p style=\"text-align: justify;\">However, this concentration of ownership has resulted in limited shares available for trading, potentially triggering price fluctuations in the market.<\/p>\n<p style=\"text-align: justify;\">Trading volume for VinFast was relatively moderate on its debut day, with approximately $185 million worth of shares changing hands. The remarkable valuation achieved by VinFast underscores investors\u2019 resounding confidence in the future of electric mobility.<\/p>\n<h2 style=\"text-align: left;\"><strong>VinFast Emergence: Rapid Rise in the EV Market<\/strong><\/h2>\n<p style=\"text-align: justify;\">In a departure from the conventional route of going public, VinFast chose to debut via a special purpose acquisition company. This method is becoming increasingly favoured by start-ups to expedite the process of listing. The approach involves merging a privately held firm with an existing publicly traded entity.<\/p>\n<p style=\"text-align: justify;\">Notably, several other EV manufacturers, such as Lordstown Motors and Faraday Future, have adopted similar strategies to access public markets.<\/p>\n<p style=\"text-align: justify;\">While VinFast\u2019s rapid rise is promising, the company faces a competitive landscape as it contends with established leaders such as Tesla and Warren Buffett-backed BYD. Despite delivering 11,300 EVs in H1, VinFast is up against Tesla\u2019s staggering 889,000 vehicle deliveries during the same period.<\/p>\n<p style=\"text-align: justify;\">Experts emphasised that Tesla will maintain its prominent role while acknowledging VinFast\u2019s robust foundation for EV success. Amid the evolving automotive landscape, VinFast\u2019s rapid ascent signifies the shifting dynamics of the industry and the emergence of challengers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNR &#8211; VinFast, the Vietnamese electric vehicle (EV) manufacturer, made a spectacular entrance into the stock market. It quickly surpassed the valuations of established auto giants Ford and General Motors (GM) on its debut day of trading. The day\u2019s trading concluded with shares in VinFast closing above $37 each during its New York debut. This [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":247908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[11387,278,11384,400,12310],"class_list":["post-247905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-electric-vehicles","tag-featured","tag-ford","tag-tesla","tag-vinfast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VinFast Electric Vehicle Manufacturer Outshines Industry Giants - Business News Report<\/title>\n<meta name=\"description\" content=\"BNR - VinFast, the Vietnamese electric vehicle (EV) manufacturer, made a spectacular entrance into the stock market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/vinfast-electric-vehicle-manufacturer-outshines-industry-giants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VinFast Electric Vehicle Manufacturer Outshines Industry Giants - 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