VinFast, a Vietnamese EV company, completed its business combination with Black Spade Acquisition Co., a special purpose acquisition company (SPAC), and was listed on Nasdaq Stock LLC on August 14, 2023. The combined company will be known as ”VinFast Auto Ltd.”

VinFast’s shares are now being traded under the ticker “VFS.” The company was the largest Vietnamese company listed on the US stock market per market capitalization (USD 23 billion).

Analyst QuickTake: Vinfast first began operations in the US in July 2022 , when it opened its showrooms in California. Since then, the company began construction of its manufacturing facility in North Carolina (US) in July 2023 . This is the company’s first factory outside Vietnam. VinFast intends to invest USD 2 billion to develop Phase I of the facility, which is to be operational from 2025 and produce the company’s VF7, VF8, and VF9 models.