VinFast Files IPO, may be the only Vietnamese company listed in US

December 08, 2022 By Prelo Con

(Image Credit Google)

According to reports, VinFast, a manufacturer of electric vehicles (EVs) in Vietnam, has now formally registered for an initial public offering (IPO) in New York. The company would be the sole Vietnamese company listed in the US if this were to be accomplished. The EV manufacturer just sent EVs to the nation, and now it wants to list them on the NASDAQ exchange under the symbol VFS. Given the number of respectable EV brands that are currently on the market, it is well known that Asian EV manufacturers may find it difficult to penetrate the US market. VinFast nevertheless has what it takes to contend. Naturally, this was not simple, especially in light of Vietnam's severe capital controls. VinFast

How to Enter the US EV Market Although it is difficult to break into the US EV industry, VinFast is not the only Asian manufacturer positioning itself to build a name for itself. The road will not be simple for a company like VinFast. The important players in the US government are ultimately responsible for their success. In the past, many Asian automakers were successful in entering the US market. For instance, in the early 2000s, Hyundai and Kia were successful in increasing their market share in the US auto industry. These two automakers attracted US consumers by providing reasonably priced cars of dependable quality. VinFast's success, however, will depend in part on Vingroup, its parent company, and the Vietnamese government having a good working relationship. The Vietnamese government is being urged to liberalize the market by VinFast. The government has also helped the business by lowering its import taxes on cars. The good news for VinFast is that certain Asian manufacturers have already succeeded in gaining market share in the US. This will not be simple, though. Currently, a large number of automakers in the US are still supplying EVs to the market. For this reason, VinFast will need to develop a competitive approach to win over the hearts of US consumers.

By Prelo Con

Following my passion by reviewing latest tech. Just love it.

VinFast Files IPO, may be the only Vietnamese company listed in US

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