VinFast Shines on Nasdaq Debut, Surpassing Veteran Automakers

VinFast, the Vietnamese electric vehicle (EV) manufacturer, made a splash in its debut as a publicly traded entity on the Nasdaq, a testament to the investors’ growing interest in EV start-ups backed by special-purpose acquisition companies (SPACs).

The company recently wrapped up its merger with SPAC Black Spade Acquisition, rebranding the stock symbol from “BSAQ” to “VFS” in the process.

Last Thursday, shareholders gave a green light to the merger, a decision that sent Black Spade shares soaring by 73% to $18.50 each. However, a dip to $10.45 was noted on the eve of Tuesday trading, showcasing the stock’s volatility.

On Tuesday, share prices swung between $16 and a staggering $28 around midday, while major indices like the S&P 500 and Nasdaq Composite were both down by close to 0.8% and 0.7%, respectively.

What makes VinFast’s merger with Black Spade stand out is its valuation. After the deal, VinFast’s stock is valued at a whopping $23 billion.

To put this into perspective, this valuation supersedes market giants like Rivian Automotive, Lucid Group, and Polestar Automotive. At its Thursday closing price of $18.50 per share, VinFast was inching closer to General Motors’ market cap of $46 billion.

And, with the stock hitting $28, VinFast’s market cap surpasses $64 billion, overtaking not just Rivian, Lucid, and Polestar combined but also traditional powerhouses like Ford Motor and GM.

Vinfast Shines On Nasdaq Debut, Surpassing Veteran Automakers

Seasoned investors might recall the initial days of the SPAC boom. Nikola’s stock value surged post its SPAC merger, only to decline steeply later on. Building a sustainable EV business, as history shows, can be more challenging than anticipated.

However, VinFast is positioned differently. The company boasts impressive sales and manufacturing capacity, cornerstones that set them apart from other EV start-ups.

VinFast CEO Thuy Le emphasized this while speaking to Barron’s, saying, “We are all about entrepreneurial spirit, innovative, determined, always ready to challenge the status quo. That’s who we are.” And importantly, she added, “That resonates very well with the American consciousness.”

Backing these statements, VinFast berichtet delivering 3,800 EVs in April, and its presence in the U.S. is tangible. Americans snapped up 740 VinFast VF8 SUVs in the recent quarter.

Furthermore, with the capability to churn out 300,000 EVs annually and a new $2 billion facility underway in North Carolina, VinFast is set for expansion. The company projects its 2023 sales between $1.8 billion and $2 billion.

Now listed in the U.S., VinFast is primed for more analyst coverage and future sales and earnings projections. Given its current market cap of around $50 billion, it not only ranks among the most valuable EV enterprises globally but also among the elite automakers.

Photos courtesy of VinFast.


Entdecken Sie mehr von EVXL.co

Melde dich für ein Abonnement an, um die neuesten Beiträge per E-Mail zu erhalten.

Copyright © EVXL.co 2025. All rights reserved. The content, images, and intellectual property on this website are protected by copyright law. Reproduction or distribution of any material without prior written permission from EVXL.co is strictly prohibited. For permissions and inquiries, please Kontaktieren Sie uns first. Also, be sure to check out EVXL's sister site, DroneXL.co, for all the latest news on drones and the drone industry.

FTC: EVXL.co is an Amazon Associate and uses affiliate links that can generate income from qualifying purchases. We do not sell, share, rent out, or spam your email.

Haye Kesteloo
Haye Kesteloo

Haye Kesteloo ist die Chefredakteurin und Gründerin von EVXL.cowo er über alle Nachrichten im Zusammenhang mit Elektrofahrzeugen berichtet und dabei Marken wie Tesla, Ford, GM, BMW, Nissan und andere berücksichtigt. Eine ähnliche Rolle erfüllt er bei der Drohnen-Nachrichtenseite DroneXL.co. Haye ist zu erreichen unter haye @ evxl.co oder @hayekesteloo.

Artikel: 1363

Eine Antwort hinterlassen