VinFast nearly 39 billion USD, sells 7,100 cars to taxi company of billionaire Pham Nhat Vuong

Opening the official trading session on September 14 on the US Nasdaq stock exchange (September 14 evening Vietnam time), VinFast Auto (VFS) shares of billionaire Pham Nhat Vuong decreased in price and are currently around the lowest price of VFS itself after its debut on the US market.

As of 9:00 p.m. on September 14 (Vietnam time), VFS shares decreased by 2.5% compared to the previous session, currently trading at 16.7 USD/share, much lower than the opening price of more than 37 USD/share on August 15. VinFast's capitalization decreased to nearly 39 billion USD.

*VinFast shares have fluctuated strongly since being listed on Nasdaq on August 15.*

Currently, VinFast ranks 14th in the world's car market capitalization rankings, behind most of the world's famous car brands, and above some long-standing car brands including Hyundai and Kia.

*VinFast's capitalization falls below 39 billion USD.*

VinFast shares in recent sessions have tended to be quite stable around the price of 16-17 USD/share.

In a document submitted to the US Securities and Exchange Commission, VinFast said it had sold 7,100 electric cars to GSM, a taxi company founded by billionaire Pham Nhat Vuong.

Specifically, in the first half of the year, VinFast delivered 4,000 VFe34 vehicles, 2,800 VF8 vehicles and 300 VF5 vehicles to GSM under a previously signed sales agreement with the company. In the first 3 months of the year, VinFast earned 6.3 million USD from selling vehicles delivered to GSM.

According to the agreement signed in March 2023, VinFast will sell 30,000 VF8, VFe34 and VF5 vehicles to GSM within 2 years.

VinFast listed on the US stock exchange: Vietnamese brand spreads worldwide VinFast shares listed on the US stock exchange and strongly attracted world public opinion. The Vietnamese brand spread widely in the international arena for the first time and may have had a positive impact on Vietnamese businessmen.

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