VinFast, one of Vietnam's largest car manufacturers, has raised the market value of its cars even higher than industrial companies such as Volkswagen and Ford.

According to the results of the first day of trading, the company's shares soared by 68.5%. As a result, the company's market capitalization reached approximately US$85 billion.

VinFast is part of the VinGroup conglomerate of Vietnam's richest man, Pham Nhat Vuong. VinFast was launched in 2017 to develop models in collaboration with BMW, Magna Steyr and Pininfarina. At the beginning of 2021, the Vietnamese automaker announced preparations to enter the American market, and in December 2022 announced plans to conduct an initial public offering of its shares in the United States.