VinFast has reported impressive business results for 2023.

Vietnam is experiencing a strong shift towards electric vehicles (EVs).

Vietnamese billionaire Pham Nhat Vuong, founder and chairman of Vingroup JSC – VinFast parent company - has just assumed his new role as Chief Executive Officer of VinFast, the leading electric vehicle manufacturer in Vietnam.

Pham Nhat Quan Anh, the son of the Vietnamese first dollar billionaire recognized by Forbes, is deputy CEO of VinFast, a subsidiary of Vingroup specializing in manufacturing electric vehicles (EV).

The news about a possible investigation targeting VinFast, a well-known Vietnamese automobile manufacturer, has caused its share prices to fall in the US stock market.

Vietnam's first electric vehicle (EV) maker VinFast plans to build a plant with an investment capital of 18.6 trillion Rp (1.2 billion USD) in Indonesia, according to Presidential Chief of Staff of Indonesia Moeldoko.

VinFast Auto, the leading electric vehicle maker of Vietnam that has listed its share on Nasdaq, has reached a US$1 billion share sale deal with Yorkville Advisors Global, in an effort to raise funds for its global operation expansion.

Just several months after the announcement of non-refundable aid of $1 billion to VinFast from his private assets, Pham Nhat Vuong has announced his donation of a battery company to the automobile manufacturer.

VinFast’s share prices have been stable at $17-18 per share over the last few trading sessions. The capitalization value of the Vietnamese electric-vehicle manufacturer is still higher than that of the Chinese Li Auto.

VinFast CEO Le Thi Thu Thuy discussed the fluctuations of VinFast share prices at the 2023 ASEAN Business and Investment Summit (ASEAN BIS) on September 4.

The continued changes in VinFast's ranking on Forbes’ list of the richest billionaires show that the international media company has become confused about the fluctuations of VinFast share prices and the attractiveness of VFS shares to investors.

The last week ended with the information that billionaire Pham Nhat Vuong jumped into the 23rd position on Forbes’ list of the top billionaires, with assets increasing by tens of billions of dollars thanks to the sharp rise in VinFast share prices.

VinFast’s capitalization value has soared to $160 billion, surpassing a number of famous automobile manufacturers. This may have been a flash of lightning in the American financial sky, and could also be the beginning of a new myth.

During a talk on CNN’s "First Move with Julia Chatterley" show, VinFast CEO Le Thi Thu Thuy revealed plans of the automobile manufacturer after its debut on Nasdaq, including a plan to expand business in the US and build a factory in North Carolina.

VinFast share prices soared at its debut session and dropped sharply later, causing the capitalization value of the Vietnamese electric vehicle manufacturer on the US bourse to fluctuate by billions of dollars in more than 1-2 trading sessions.

The VinFast listing on the US bourse marks a milestone for the electric car manufacturer. The official debut on the Nasdaq stock market in August has helped the Vietnamese electric car manufacturer catch public attention around the world.

Shares of Vietnam’s leading electric vehicle maker VinFast rallied again in New York on August 21 after losing their value for the three consecutive days on the Nasdaq stock market.

Forbes has reported that the assets of billionaire Pham Nhat Vuong have soared to $74 billion, placing him at the 16th position on the list of the world’s wealthiest billionaires.

The market capitalisation of VinFast, the electric vehicle (EV) maker of Vietnamese conglomerate Vingroup reached 85 billion USD in its Nasdaq debut on August 15 with nearly 6.8 million shares changing hands.