VinFast listed among top 100 most influential companies in the world for 2024

The reputable magazine has ranked VinFast in the "Disrupters" group and dubbed the Vietnamese car company "An EV splash".

The magazine outlined that the Vietnamese car company has made a global impact in the EV industry due to the lightning pace of construction of its factory in just 21 months.

Along with VinFast's vast production scale and miraculous developments, the media outlet also pointed out that VFS's shares skyrocketed by 700% in just the first two weeks after the company was listed on the US stock exchange.

The prestigious US magazine also described the company's battery-leasing electric vehicle business model as being "unique". 

According to TIME, VinFast has bold plans ahead as it strives to triple vehicle delivery in 2024 to 100,000.

Backed by Vietnam’s richest man, Pham Nhat Vuong, VinFast is also in the process of opening factories in North Carolina, Indonesia, and India.

Despite posting a US$618.3 million loss in the first quarter of the year, Vuong has vowed to at least break even next year, pledging an additional US$1 billion of his personal wealth to make it happen.

According to economic expert Pham Chi Lan, VinFast has made history for Vietnamese businesses. “This event is even more special in the context of the world market going through a period of fluctuations and fierce competition in multiple fields, especially the electric car industry,” she noted.

Sharing the same perspective, Dr. Tran Dinh Thien, former director of the Vietnam Economic Institute, said this is good news, not only for the VinFast brand, but also for Vietnam as a whole.

The fact that a Vietnamese enterprise was honoured in the list of the top 100 most influential companies in the world as voted by TIME can be seen as a point of pride and marks the increasing maturity of VinFast, Thien noted.