Vietnam EV maker plans to IPO in US

Author: EIS Release Date: Dec 20, 2022

Vietnamese EV maker VinFast, which made its first delivery of 999 cars to the US in November, has filed to IPO on the Nasdaq which will make it the only publicly quoted Vietnamese company on a US exchange.

 

VinFast officially filed for an initial public offering in New York in a move that, if successful, would make it the only Vietnamese company listed in the U.S.

 

VinFast is run by Vietnam’s richest man Pham Nhat Vuong. Its EV sells for $30,000 in Vietnam and $42,000 in the USA.

 

VinFast plans to build a factory in North Carolina and take advantage of US government subsidies on EV car sales.