Last week, one startling piece of international financial news was the performance of an electric vehicle (EV) start-up venture cobbled together by previously struggling Vietnamese VinFast whose initial shares were issued in New York.
That day one, the shares sold well above the initial offer price giving VinFast a market capitalisation of $85 billion, instantly overtaking any of three big three traditional automakers Ford, GM or Fiat Chrysler by a whopping $27 billion. The ‘small’ Vietnamese outfit now only sees Tesla as its worthy competitor in America.
