VinFast more valuable than Ford and GM on the stock exchange

Despite reviews and numbers

VinFast more valuable than Ford and GM on the stock exchange

The Vietnamese car brand VinFast has received an unexpectedly warm welcome on the American stock exchange. In terms of market value, the brand is even bigger than Ford and General Motors!

Since Tesla, we know that the value investors assign to a car brand is not always based on the number of cars the brand in question builds. Profit does not always count too heavily, after all, it is (also) about prospects. Nevertheless, the stock market flotation of the Vietnamese VinFast can be called remarkable. De Volkskrant reports that the share rose from $ 20 to $ 22 immediately after the opening, to be worth $ 37.06 at the end of the day. That means a total market capitalization of no less than 85 billion dollars, against 46 billion for General Motors and 47 for Ford.

Now VinFast is certainly not the least promising new car brand, but the global launch is not going completely smoothly. VinFast’s first electric SUV to hit the US market, the VF8, was slammed by the US automotive press with terms such as “Yikes‘, ‘Just Don’t‘ and ‘Simply not ready for America‘. Even in hard numbers, VinFast has barely scored in the US, with only a handful of cars delivered. Investors apparently also like the newcomer, who has a huge group, the VinGroup, behind him as a confidence-inspiring property.

– Thanks for information from Autoweek.nl

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