(VOVWORLD) -VinFast, the electric car company, is the only Vietnamese representative to appear in the "TIME 100 most influential companies 2024”.
 Assembly robots put together car bodies in the body shop at VinFast manufacturing plant in Haiphong, Vietnam. Photo: Linh Pham for TIME |
VinFast made history as the first Vietnamese company included the prestigious list, which was voted for the third year by the US-based TIME Magazine.
TIME cited VinFast’s August IPO with shares rocketing 700% over two weeks.
“The excitement was over the company’s unique model: selling cars at a low price without a battery, then leasing the battery to the buyer and swapping it free of charge when it eventually degrades.” VinFast retains bold plans to triple vehicle delivery in 2024, according to the magazine.
“Backed by Vietnam’s richest man, Pham Nhat Vuong, who made his fortune in instant noodles but whose sprawling VinGroup empire ranges from hotels to hospitals, VinFast is opening factories in North Carolina, Indonesia, and India.”