VinFast Surpasses Ford and GM in Stock Price: VinFast, a Vietnamese EV maker, has surpassed Ford and GM in stock price. Even though VinFast is new to the US market, this is true. Strange thing happened. VinFast’s IPO was a roller coaster. The company’s shares rose 270% on the first day of selling but fell 19% on the second. Interesting, investors own only 1% of the car, while VinGroup, a major Vietnamese firm, owns the rest. The automaker’s multiple buyer types are set up strangely.
VinFast has had many challenges to succeed in the U.S. The VF8 electric SUV, the company’s flagship product in the US, received negative press shortly after its launch. The journals Road & Track, InsideEVs, and MotorTrend have written harsh evaluations like “Simply unacceptable” and “Return to sender.” Bad assessments have occurred. MotorTrend editor Miguel Cortina thought the VF8’s cabin and craftsmanship were lacking. Also, the VF8 was inefficient with fuel. Despite its unstable design, Arstecnica awarded the VF8 a more positive evaluation, saying it had potential. Reacted to the last item spoken.
VinFast has hinted at software improvements to better serve US clients. The corporation said it heard the complaint. While software upgrades may cure certain problems, Cortina says that changing how the product is created may fix others.
Although it appears that VinFast has always been opposed, this is not true. Remember that VinFast isn’t the only auto firm with early issues. Hyundai and Kia are industry leaders despite their early struggles in the U.S.
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This despite starting their firm in the US. Unlike Tesla, Rivian, and Lucid, VinFast did not launch its products without experience, which earned it kudos. The first gasoline-powered automobiles were displayed at the Paris Motor Show in 2018, exactly one year after the firm was created in 2017.
VinFast sold 24,000 automobiles worldwide in 2022, matching Rivian’s production. Ford sold 4.2 million automobiles whereas Volkswagen sold 8.3 million.
VinFast only sells one model in the US, and only in thirteen California stores. When the VF9 and VF6 and VF7 SUVs are released, the lineup will expand to appeal to more Americans. The launches are scheduled for the following few years.
The parent firm, VinGroup, is a well-known conglomerate with several business interests. These companies are in tech, healthcare, education, and real estate. VinGroup controls the brands of VinSmart, VinBrain, Vinmec, and Vinhomes, making it a dangerous rival in Vietnam. The country’s largest educational institution is VinSchool’s K–12. VinSchool graduates who want to continue their study could enroll in VinUni, the company’s four-year university. Their relaxation zone includes VinWonders amusement park, so they can serve a wide range of customers. This ensures their ability.
VinGroup’s finances were solid in 2022. The corporation earned $535.7 million on roughly $5.3 billion in sales. This benefited the company. VinGroup has great intentions if it can keep the electric car market from going crazy. VinFast, a modest segment of VinGroup’s massive commercial empire, has big goals.