VinFast's Nasdaq debut propels its value past GM and Ford

VinFast, a Vietnam-based electric vehicle manufacturer, saw its stock surge on its first day of trading on the Nasdaq, reaching a high of $38.49 per share. With a market cap of over $64 billion, VinFast's stock value surpassed that of major automakers like Ford and GM. The successful listing is seen as a significant milestone for VinFast's global expansion and its commitment to sustainable mobility. The company aims to make smart, safe, and environmentally friendly EVs accessible to everyone. VinFast completed its merger with Black Spade Acquisition, a publicly traded company, and is in the process of raising billions of dollars through a SPAC merger.