VinFast's Soaring Performance: Stock Surges Over 100% in August 22 Session, Becomes the Fourth Largest Automotive Manufacturer by Market Cap Worldwide

With a market capitalization of $88.6 billion, VinFast has surpassed renowned brands like Mercedes Benz, BMW, Volkswagen, and Ferrari. Additionally, VinFast has overtaken BYD to become the second largest electric vehicle manufacturer globally.

Starting the trading session on August 22 in the US, VinFast's VFS stock opened at $18.8 per share, marking a roughly 7% increase compared to the previous trading session. Within the first hour, the price of VFS stock surged by nearly 45%, reaching $25.5 per share. The trading volume in the first hour reached approximately 3.7 million shares.

By 11:15 AM US time, a record-breaking trading volume of nearly 8 million shares for VFS stock was achieved. At this point, the stock price had also risen to around $30, with the highest point reaching $33.88.

At 12:00 PM US time, the stock price of VFS had increased by 136% to reach a record-breaking $41.5 per share. The trading volume had surpassed 11 million shares. VinFast's market capitalization had also reached approximately $95.5 billion at this time, officially surpassing BYD to become the second largest electric vehicle manufacturer after Tesla.

With the current stock price, VinFast's market capitalization has also re-entered the top 10 list of global car manufacturers, reaching $78 billion. This figure surpasses well-established car companies like Ferrari, Honda, Ford, and Hyundai.

According to Forbes' update after August 21, billionaire Pham Nhat Vuong, Chairman of Vingroup, owns assets worth $23.5 billion, ranking 68th in the world and 4th in Southeast Asia, following three Indonesian billionaires.

VinFast's surge today has increased Vuong's wealth by more than $17 billion to over $40 billion, placing him back among the top 30 richest individuals in the world and the wealthiest in Southeast Asia.

Closing the trading session on August 22 in the US, VFS stock reached a price of $36.7 per share, marking a 108.9% increase from the previous day. The record-breaking trading volume was 19.3 million shares.

With this stock price, VinFast has officially become the fourth largest automotive manufacturer in the world by market capitalization, with $88.6 billion, surpassing prominent names such as Mercedes Benz, BMW, Volkswagen, and Ferrari. Additionally, VinFast has overtaken BYD to become the second largest electric vehicle manufacturer globally.