Will billionaire Vuong's VinFast be one of the three largest electric car companies in the world?
With a valuation of 23 billion USD after the combination with Black Spade, VinFast will be the world's third
On May 12th, VinFast announced a merger agreement with Black Spade. After the transaction, VinFast's valuation exceeded $23 billion, and it plans to continue listing on the US stock exchange.
According to valuation calculations, VinFast will become the world's third-largest pure electric vehicle manufacturer by market value, second only to Tesla in the United States (with a market value of $532 billion) and Li Motors in China (with a market value of $29 billion).
Only ten companies worldwide produce and sell electric vehicles with a market value exceeding $1 billion.
![]()
Last month, Vingroup signed a commitment agreement with VinFast and Mr.Vuong. Therefore, within the next year, Mr.Vuong will donate $1 billion from his wealth to VinFast. Vingroup provides $500 million in non-refundable financing and a $1 billion loan to VinFast, with a maximum term of 5 years.
Following the above developments, VinFast announced on May 13th that 1879 VF 8 electric vehicles have arrived in Benicia, California (USA), marking the second batch of vehicles to be exported to the international market. 1098 cars will be delivered to US customers. The remaining 781 cars will continue to be shipped to Canada and are expected to arrive in mid-May.
![]()
VinFast has completed the program to sell VF 8 in the United States and passed testing by the National Highway Traffic Safety Administration (NHTSA).
See more:
Vietnamese spend $1.6 billion on importing iPhones
Historical turning point: Vietnam's multi-billion industry shaking
Vietnam's largest Mercedes-Benz dealer reduced profits dozens of times
According to valuation calculations, VinFast will become the world's third-largest pure electric vehicle manufacturer by market value, second only to Tesla in the United States (with a market value of $532 billion) and Li Motors in China (with a market value of $29 billion).
Only ten companies worldwide produce and sell electric vehicles with a market value exceeding $1 billion.
Last month, Vingroup signed a commitment agreement with VinFast and Mr.Vuong. Therefore, within the next year, Mr.Vuong will donate $1 billion from his wealth to VinFast. Vingroup provides $500 million in non-refundable financing and a $1 billion loan to VinFast, with a maximum term of 5 years.Following the above developments, VinFast announced on May 13th that 1879 VF 8 electric vehicles have arrived in Benicia, California (USA), marking the second batch of vehicles to be exported to the international market. 1098 cars will be delivered to US customers. The remaining 781 cars will continue to be shipped to Canada and are expected to arrive in mid-May.
VinFast has completed the program to sell VF 8 in the United States and passed testing by the National Highway Traffic Safety Administration (NHTSA).See more:
Vietnamese spend $1.6 billion on importing iPhones
Historical turning point: Vietnam's multi-billion industry shaking
Vietnam's largest Mercedes-Benz dealer reduced profits dozens of times
