The meteoric rise in shares, which have climbed nearly 700% since their mid-August debut on the Nasdaq Global Select Market index, has propelled VinFast’s valuation to nearly $200 billion, reported Bloomberg. This valuation eclipses the combined worth of GM and Ford, trailing only behind Tesla Inc. and Toyota Motor Corp. VinFast’s Financial Standing and Growth ProspectsAs a relatively new company, VinFast is not yet profitable, which is not uncommon for such a capital-intensive business. Despite its immense valuation, VinFast has sold comparably few vehicles. Risks include the global chip shortage, rising inflation, and stiff competition from established EV players like Tesla, Ford, and GM.

Source: News 24 August 29, 2023 18:08 UTC