Tuesday , November 29 2022

VinFast considers US IPO in January


Automaker VinFast is considering going public in the U.S. as soon as January, seeking to realize its dream of becoming a global electric car producer.

The company seeks to raise at least $1 billion in its initial public offering, which it has discussed with prospective investors, Bloomberg reported, citing people familiar with the matter.

It has filed confidentially for an IPO in the U.S. in April.

VinFast considers the U.S. a key market in its plan to become a global manufacturer of electric vehicles. It has signed a deal with North Carolina to build a $2-billion plant to produce electric buses, cars and auto batteries.

VinFast plans to ship 5,000 electric vehicles to the U.S., Canada and Europe this month and deliver them to customers in December.

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