Posted on 11/12/2023 12:55:05 AM PST by cba123
Following its SPAC merger in August, shares of VinFast Auto (NASDAQ:VFS) went on one almighty tear, going from its $11.10 debut price to $93 over the space of two weeks, with the Vietnamese electric vehicle (EV) maker’s market cap soaring to $190 billion at some point, making it briefly the world’s third most valuable carmaker, only behind EV colossus Tesla and auto giant Toyota. The comedown, however, as you might expect following such an unlikely surge, has been fast and brutal, with the shares now trading 46% below the debut price.
While the improbable former valuation has now come down to a far more reasonable level, Cantor analyst Andres Sheppard thinks the company has several things going for it.
“We believe VinFast benefits from more affordably priced EVs, vertical integration and manufacturing in Vietnam (which results in fewer supply chain disruptions), and the financial and brand backing of Vingroup,” Sheppard said in a recent initiation report.
So, what is VinFast all about? The company designs and makes EVs, e-scooters, and e-buses, selling them directly to customers in Asia, Europe, and North America. There are currently four models in the portfolio, including compact electric SUV, the VF 5, that has an ASP of $22,800, and the VF e34 that goes for ~$34,860 and is sold exclusively in Vietnam. Additionally, the company manufactures the VF8, a compact SUV aimed at customers in the U.S., Canada, Europe, and Vietnam (going for $46,000), and the most-expensive model, the VF 9, which is a seven-person, three-row, more upmarket SUV, selling for ~$83,000. Moreover, there are 3 other models in the pipeline with prices anticipated in the range between $13,500 to $37,500, so that next year, the company expects to have seven different models on the market in Asia, Europe, and North America.
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(Excerpt) Read more at markets.businessinsider.com ...
I admit to being slightly biased toward VinFast …
I would hardly call going from $6 to ~$90 to $6 dollars a share in a few months a bull market move..
No, $11.00 to $93. to $6.00. Somebodies lost lot of money, and you can bet a few are richer.
Gonna need more electricity.
Vietnam’s Richest Person Bets Over $10 Billion To Break Into The Global EV Market
Easy come, easy go..
Actually VinFast is almost totally owned by the one guy.
That’s why it moved up so quickly, and dropped so quickly.
I think in the next year, it will turn back up, bigtime.
But that is just me saying ...
The First Customers Receive VinFast’s VF 5, Priced At $19,500, Batteries Not Included
Wow. Where is that, I did not know those we’re already being built.
Is that in Vietnam?
Oh I see. That is the (sort of) small version.
I just needed to page down.
Apparently that is sold in Vietnam right now. 😎
Here is a link to VinFast, about the car.
This shows it being sold now at Landmark, at the highest building in Vietnam. 😎. Apparently it is just now being sold this month if I am not mistaken.
This is not yet the smallest version, but it is the smallest versiom yet. The smallest versìon will be another year.
Wonder if they make for a prettier fire than Teslas?
These don’t burn.
You are obviously mistaking them, for cars full of flammable gasoline.
Those burn. These worst case short out. VinFast (and Tesla) don’t really burn, the ones which burn, are the combination gas/electric cars. The hybrid cars.
BYD sells some of those. VinFast or Tesla don’t.
No, just less expensive. As an added bonus, when it’s burning, it smells like pho.
Haha, OK that is funny there.
😄
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