VinFast CEO Stays Optimistic Despite Market Fluctuations, Sets Sights On ASEAN

The CEO of Vietnamese EV maker VinFast VFS, Thuy Le, dismissed concerns over the company’s fluctuating stock value, expressing confidence in the company’s potential, particularly in Southeast Asia’s emerging electric vehicle sector, Nikkei Asia reported.

Thuy made these remarks during a panel discussion at the ASEAN Business & Investment Summit in Jakarta.

“We were not surprised because we believe in the potential of [our] company,” Thuy said, addressing the company’s roller-coaster stock performance following its Nasdaq debut.

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VinFast is a subsidiary of Vietnam’s largest private conglomerate, Vingroup, which made its Nasdaq debut in mid-August. The EV maker’s valuation has since swung between $80 billion and $200 billion.

The company has already launched seven models in Vietnam since it began its EV journey six years ago. Thuy highlighted Southeast Asia’s developing EV ecosystem, including Indonesia’s rich nickel resources and EV initiatives in Malaysia and Thailand, as reasons for her optimism.

Despite a recall incident in the U.S earlier this year, Thuy remains bullish on the company’s prospects, “So absolutely we can make EVs big [in ASEAN] and export from here to the rest of the world.”

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