Responding live on Bloomberg TV on the morning of October 16, Ms. Le Thi Thu Thuy - CEO of VinFast - said that after completing the growth targets, VinFast's stock price will gradually stabilize.
"Currently, only about 1% of shares are floating on the market. However, as the company announced 2 weeks ago, about 76 million shares have been registered for circulation, which will help VFS shares increase liquidity. VinFast is also in the process of working and expanding relationships with investors to issue more shares to the stock market," Ms. Thuy revealed.
Also in the interview, VinFast CEO also commented on the current Southeast Asian market. According to Ms. Thuy, this is a very potential market because the rate of electric vehicles is still very low. In addition, the governments of the countries also set very positive goals for the market. Therefore, VinFast will have many advantages in expanding its business to this region.
More specifically about the market expansion plan, Ms. Thuy informed that VinFast is aiming to expand to 50 markets by the end of 2024. These include Indonesia, India along with previously announced markets such as the US, Canada, the Netherlands, Germany, France and many other markets are being considered.
Regarding the Indian market, Ms. Thuy shared that the company considered many options and has now narrowed it down to three options to consider for the discussion of building a factory. At the same time, VinFast is discussing specific plans with the Indian government and the company will announce them when it has more details.
Regarding the financial support from Vingroup and Chairman Pham Nhat Vuong, Ms. Thuy said that in the next 18 months, thanks to this, the company will still have enough resources to carry out its business plans. However, like any other business, VinFast is always looking for opportunities to raise capital after listing. The company is currently talking to many investors to raise capital for its global development goals.
Previously, Vingroup Corporation announced that Mr. Pham Nhat Vuong announced the donation of 99.8% of VinES Energy Solutions Joint Stock Company to VinFast Company. After the merger, VinFast will be self-sufficient in battery technology - an important component of electric vehicles, while mastering the production chain, increasing its competitive advantage in the market. VinES Company will be merged into VinFast Company to take the initiative in technology and focus resources to strengthen research and development of batteries for VinFast electric vehicles.
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