VinFast Auto Ltd. Ordinary Shares (VFS)
VinFast Auto Ltd. is an automotive manufacturer founded in Vietnam, focusing on the development and production of electric vehicles, including cars and electric scooters. The company aims to establish a global presence in the EV market by integrating advanced technology and sustainable practices into its vehicle lineup.
Company News
The electric vehicle market faces potential challenges in Q4 2023, with consumer tax credit expiration causing demand fluctuations. Rivian shows promise with upcoming R2 SUV launch, while VinFast struggles with global expansion and financial performance.
The global electric vehicle aftermarket is expected to grow from USD 84.08 billion in 2025 to USD 351.59 billion by 2034, with a CAGR of 17.23%. North America currently dominates the market, with Asia Pacific projected to have the fastest growth rate.
As EV tax credits expire in September, VinFast and Lucid Group are positioned to potentially benefit from shifting market dynamics, with analysts seeing upside potential despite current unprofitability.
VinFast, a Vietnamese EV maker, has signed a $1 billion Memorandum of Understanding with JTA Investment Qatar to expand its electric vehicle and tourism businesses globally.