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Vietnamese electric car start-up worth more than Ford after US listing

August 16, 2023
Source: finance.yahoo.com finance.yahoo.com
News Snapshot:
Vinfast’s overall value surged past those of established automakers after a sliver of the company’s equity was made available in a New York IPO - REUTERS/Lisa Baertlein A Vietnamese electric car maker has overtaken the value of Western rivals including Ford in its first day of stock market trading. Vinfast, the loss-making manufacturer, was valued at $85bn after listing on the New York Stock Exchange, dwarfing the value of each of Detroit’s “big three” carmakers Ford, General Motors, and Stellantis, the owner of Vauxhall. By comparison, Stellantis has a price tag of $53bn, with Ford and General Motors worth $48bn...
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