Vietnamese carmaker VinFast drops for fourth straight session after peak on Nasdaq
VinFast's VFS shares on the Nasdaq declined for a fourth consecutive session on Friday to $29.5 per share after hitting their peak at $82.35 on August 28.
The stock closed at $34.71 per share on Thursday, $41.27 on Wednesday, $46.25 on Tuesday, and $82.35 on Monday - a record high since its Nasdaq debut on August 15 ($37.06).
Nearly 7.35 million shares changed hands on Friday, up from over 6.5 million in the previous day.
The Vietnamese electric vehicle startup's market capitalization has reached nearly $68.49 billion, dropping to the sixth position among world's top car manufacturing companies. The figures for Tesla and Toyota were $777.66 billion and $233.48 billion, respectively.
On the Forbes billionaires list, Pham Nhat Vuong, chairman of Vingroup, now has a total asset of $5.9 billion, ranking 460th in the world.
Currently, out of the 2.3 billion VinFast (VFS) shares, only 4.5 million can be traded. Regulatory filings in the U.S. show Vietnamese tycoon Vuong directly and indirectly controls 99% of VinFast’s outstanding shares, mostly through his conglomerate Vingroup.

VinFast vehicles delivered to Canada on the Silver Queen vessel. Photo courtesy of VinFast.
VinFast’s public listing followed the completion of a deal with Black Spade Acquisition, a SPAC. SPACs are shell companies that raise capital in an initial public offering (IPO) and use the cash to merge with a private company in order to take it public, usually within two years.
The company had delivered almost 19,000 EVs including the VF e34, VF 5, VF 8, and VF 9 models to the U.S. market as of June 30, 2023. It is also preparing for the upcoming launch of the VF 3, VF 6, and VF 7 models in the Vietnamese and global markets.
VinFast is looking forward to building upon its rapid expansion as the company rolls out next-generation EVs and solutions, and carries out its strategy of expanding its footprint globally.
It has established a strong foothold in its Vietnamese home market by rolling out its own charging network spanning across 63 cities and provinces, and plans to expand it further in the coming years. VinFast has also established a company-owned retail and service network of over 122 VinFast stores worldwide.
VinFast, part of Vietnamese private conglomerate Vingroup JSC, is working to strengthen its position in the global EV market by leveraging new partnerships with distributors and dealers in select markets, including North America, Europe, Vietnam, and Southeast Asia.
On July 28, VinFast broke ground at its new EV manufacturing facility in the U.S. The event marked a significant step toward its global expansion and supply chain development in North America. A total investment of $4 billion is expected to go into the project, with half for the first phase.
The carmaker was founded in 2017 with a vision to drive the global smart electric vehicle revolution. It operates a manufacturing complex in northern Vietnam’s Hai Phong that boasts up to 90% of manufacturing automation and an annual production capacity of up to 300,000 units per year in phase one.
VinFast is the second Vietnamese company to be listed on the Nasdaq. The first was Cavico which was delisted in 2011 due to violations regarding information disclosure.
- Read More
What makes NobleGo - Vietnam’s first home-bidding livestream platform - so notable?
NobleGo – Vietnam’s pioneering AI-powered livestream real estate bidding platform developed by Sunshine Group – has completed its first 20 livestream sessions.
Real Estate - Tue, September 16, 2025 | 4:53 pm GMT+7
Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026
Japanese-backed Aeonmall Vietnam is ramping up construction on its Aeon Mall Ha Long project in Quang Ninh province, home to Ha Long Bay, with an aim to open it to the public by end-2026.
Industries - Tue, September 16, 2025 | 3:54 pm GMT+7
Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex
A long-stalled automotive manufacturing project by Xuan Kien Auto JSC (Vinaxuki) has been officially terminated by Hanoi authorities, and the reclaimed land in Phuc Thinh commune will be repurposed for a new commercial and service complex.
Industries - Tue, September 16, 2025 | 2:44 pm GMT+7
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7