HO CHI MINH CITY -- VinFast announced plans to merge with a New York Stock Exchange-listed special purpose acquisition company (SPAC), bringing the Vietnamese electric vehicle maker closer to a long-sought public offering in the U.S.
The automaker run by Vietnam's richest man said Friday the deal with Black Spade Acquisition Co. would value it at $23 billion. EV startups listed in the U.S. like Rivian and Lucid have market capitalizations of about $13 billion.
