Pressure on Vietnam EV maker VinFast to live up to Nasdaq splash

Newcomer automaker looks to win over drivers in crowded global electric market

20230817 VinFast Debuts on Nasdaq

VinFast debuts on the Nasdaq Global Select Market on Aug. 15. © AP

LIEN HOANG, Nikkei staff writer

HO CHI MINH CITY -- Vietnam is watching to see if homegrown electric vehicle maker VinFast can deliver on the sparkle of its U.S. listing after a bumpy first two days of trading.

The new EV producer rang the Nasdaq opening bell on Tuesday, when its stocks popped 68% to close its first trading day at $37, giving it a market capitalization greater than that of either Ford or GM for the moment.

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