Vietnamese luxury electric car maker VinFast files to go public on NASDAQ • TechCrunch

VinFast, the Vietnamese maker of electric cars, said Tuesday that it had filed an initial public offering in America. The shares will be listed under the symbol “VFS” on NASDAQ.

VinFast was incorporated in 2017; it began operations in 2019. It will be converted to a public limited company in Singapore in preparation for an IPO. The price range and number of shares that will be offered were not disclosed.

The EV startup has been actively seeking the US market and was recently displayed. Four SUVsPresented at the LA Auto Show. VinFast was present at the LA Auto Show during the summer. $1.2 billion in incentivesThe automaker plans to build a North Carolina plant, where it hopes to begin building cars in July 2024. VinFast even has She was promised a $7,500 discountPotential buyers in the US who are hesitant to buy an electric vehicle can qualify for the US EV Tax incentives.

The IPO date has not been set, although it was originally scheduled for this year’s fourth quarter. Given the market uncertainty, we expect the company to go public sometime next year.

Unlike other electric vehicle companies, which have chosen to go public with a Special purpose acquisition mergerVinFast already began producing and shipping vehicles. The automaker shipped its 999th batch of cars to the US in late October.

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