The market capitalization of an electric car company increased from 4 billion USD to 100 billion USD in the half of the year.

Bloomberg has just reported that Vingroup (VIC) is considering an initial public offering in the US for car manufacturer VinFast, expected to raise about $ 2 billion. VinFast expects a valuation of at least $ 50 billion after listing, the source said. The automaker will become the first Vietnamese company listed in the US if it succeeds.

A LUX2.0 – photo: Bloomberg

At $ 2 billion, the IPO of VinFast will be the largest ever IPO of a Vietnamese company. Previously, Vinhomes (also under Vingroup) raised about $ 1.4 billion from selling shares for the first time in 2018. Currently, Vingroup is the largest enterprise by market capitalization in Vietnam’s stock market with a valuation of more than $ 19 billion.

With a valuation of $ 50 billion, Vinfast’s market capitalization will be in the Top 13 in the world, on par with the oldest giants in the world auto industry such as Ferrari (capitalization 52 billion USD), Hyundai (51.22 billion USD). USD), Honda (50.94 billion USD) and standing above many big names like Ford (49.41 billion USD), Volvo (48.73 billion USD). Some car manufacturers in the region such as Kia (from Korea) currently have a market capitalization of 30.68 billion USD, Suzuki Motor (Japan) with a market capitalization of 21.95 billion USD or Nissan (21.64). billion USD), even Mazda currently has a market capitalization of only 5.4 billion USD.

Unit: billion USD

The top 10 of the world’s largest car manufacturers are Elon Musk’s Tesla ($ 673.79 billion), Toyota ($ 214.99 billion), Volkswagen ($ 160.87 billion), and Daimler (corporate Mercedes Benz mother – $ 160.87 billion), General Motors ($ 85.96 billion), BYD (Chinese car maker – $ 69.08 billion), BMW ($ 68.4 billion), NIO (China – 60.85 billion USD), Stellantis (Netherlands – 55.5 billion USD), Ferrari (52.16 billion USD).

The value of NIO from 4 billion to a peak of more than 100 billion USD in just half a year

Recently, on the American television company CNN, the image of VinFast appeared especially impressed with the slogan “Boundless Together”, skillfully interwoven with images in daily life and frame. typical majestic natural scene of Vietnam. The V symbol is hidden in all evocative frames, subtly integrated under the images of energy wind propellers, flying birds, terraced fields …

This shows that the game of billionaire Pham Nhat Vuong has not only been encapsulated in the domestic market but has begun to realize the ambition to go to the world market, but more specifically, the US market – the territory of the home. World car manufacturer.

Ms. Thai Thanh Hai – VinFast’s General Director shared with the press: “VinFast’s vision is to become a global smart electric car manufacturer and the US is one of the first international markets that we will focus all of our energy. Initially we will develop high-end models for the US market. ”

Vinfast has become “a speedy landing” creating the miracle of Vietnam. VinFast is about to launch the VF e35, an SUV version with automatic driving technology with two electric and gasoline versions. Vinfast is expected to start accepting orders in Vietnam from September 2021, while in the US, Canada and Europe in November 2021. Vehicles will be delivered in February 2022 in Vietnam and June 2022 in international markets.

“We want to build a Vietnamese brand with a world-class reputation,” billionaire Pham Nhat Vuong shared with Bloomberg in an interview at the Vingroup headquarters (Hanoi) at the end of 2019.

“To many international friends, Vietnam remains a poor, backward country. We will have to find ways to market and prove that our products represent a dynamic and thriving Vietnam that has reached the mark. the highest standard in the world, “said Pham Nhat Vuong. To achieve this goal, Vingroup Chairman plans to invest about $ 2 billion in personal assets and Vinfast will suffer losses for a few years.

And Mr. Vuong is gradually realizing the goals set by Vinfast, just after 3 years since the start of the factory on an area of ​​335 hectares in Hai Phong.