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The Independent UK

National

Stuti Mishra

The little-known Vietnamese electric vehicle maker that’s now valued at more than Ford or GM

Ford GM VinFast Vietnam electric vehicle Le Thi Thu Thuy Pham Nhat Vuong David Mansfield Tesla Inc. Vingroup

AP

Vietnamese electric vehicle (EV) manufacturer VinFast made an eye-popping debut on Nasdaq with its stock market valuation soaring above giants such as Ford and General Motors (GM) on its first day of trading.

The EV maker, which has been in losses so far, opened at $22 (£17) but closed above $37 (£29) each in its first day of trading, surging its market valuation to a staggering $85bn (£66bn) – much higher than Ford’s $48bn and GM’s $46bn.

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