VinFast shares on Nasdaq soar, CEO Le Thi Thu Thuy talks on CNN about conquering the world market

At the close of trading on the US stock market on August 22 (early morning of August 23, Vietnam time), VFS shares of the electric car company VinFast reached 36.72 USD, more than double the price of the previous day. During the session, VFS even reached nearly 47 USD. In total, on the entire session of August 22, more than 19.3 million VFS shares were traded, more than 3 times the trading volume in the first trading session.

At this price, the capitalization of the entire VinFast company is over 84 billion USD and is in the top 10 largest car manufacturers in the world. The increase in VinFast shares also increased Mr. Pham Nhat Vuong's assets by 20.5 billion USD to 44 billion USD according to Forbes magazine to date. Billionaire Pham Nhat Vuong is currently ranked 27th in the list of USD billionaires voted by Forbes .

VinFast factory in Hai Phong

The Vietnamese car brand has officially listed its shares with the code VFS and traded on the US Nasdaq stock exchange since August 25, attracting the attention of both domestic and international media. Most recently, on the evening of August 22 (Vietnam time), CNN 's leading economic program "First Move with Julia Chatterley" aired an interview with VinFast's global CEO - Ms. Le Thi Thu Thuy. In a conversation with CNN journalist Julia Chatterley, VinFast CEO Le Thi Thu Thuy answered many questions about the reason for VinFast's listing on the Nasdaq, its stock price, and VinFast's future plans.

Accordingly, CEO Le Thi Thu Thuy said: "We always have many big plans ahead. We have successfully listed and believe that the general market is recovering and will help VinFast in raising capital in the future. Currently, we are having support from parent company Vingroup and Chairman Pham Nhat Vuong with a commitment of 2.5 billion USD, helping us to operate until break-even and profit. We are building a factory in North Carolina, focusing on production, vehicle delivery and expanding to other markets, including North America, Vietnam, soon to be Europe, Southeast Asia and the Middle East".

Vinfast shares increase 127%, capitalization 95 billion USD

Answering the question "Why is VinFast confident that it can compete in the US market, where there are many big electric car brands like Tesla?", VinFast's CEO said that the US is a very difficult and challenging market. "If we can succeed in the US, we can build our brand and succeed anywhere. We believe in a strong future in the US, especially with the new business model - the hybrid model (the brand's own retail system combined with the distributor system) will help VinFast expand the market more quickly. We have received enthusiastic attention from many states.

In addition, from a general perspective, when the market is shifting strongly from gasoline cars to electric cars, it means that there is still a lot of room and enough room for new electric car brands. And, we believe that VinFast can conquer the market."

CNN interviews VinFast CEO Le Thi Thu Thuy

Regarding VinFast shares, CNN reporter asked: "Currently, investors only have a very small portion (1%) of shares to invest, do they have any opportunities in the future when VinFast wants to raise capital?". Ms. Le Thi Thu Thuy replied that she will continue to research investment capital raising opportunities according to the market trading situation. A larger number of shares will be introduced to the market in the next 6 months to a year.

Quick view 8:00 p.m. August 23: Mr. Pham Nhat Vuong doubled his wealth overnight

CEO Le Thi Thu Thuy: Currently, VinFast's factory in Vietnam can reach a capacity of 300,000 units/year and the company has plans to expand its scale to 950,000 units/year. The advantage in labor costs, along with a sustainable supply chain, has created a great competitive advantage for VinFast. In addition, the North Carolina factory will operate with a capacity of 150,000 units/year and can also expand production scale according to market demand.

Source: https://thanhnien.vn/co-phieu-vinfast-tren-nasdaq-tang-cao-ceo-le-thi-thu-thuy-len-cnn-noi-ve-chinh-phuc-thi-truong-the-gioi-18523082310274912.htm