Vietnam’s small electric car company ‘VinFast ‘ went public on the US NASDAQ on the 15th (local time). On the first day of the IPO, the market cap was $85 billion (approximately 114.1125 trillion won). Based on the closing price on the 21st, the ransom amount is three times the market cap of Hyundai Motor Company at 39.366 trillion won. It is nearly $40 billion higher than Ford (47.9 billion dollars) and General Motors (45.6 billion dollars), the two largest automakers in the United States. However, despite such a generous evaluation, VinFast’s flagship models suffer from harsh criticism due to frequent defects.
It’s been since last May that the noise has exploded. The flagship model, the electric sports utility vehicle ( SUV ) ‘ VF8’ , has only a 15.6-inch touch screen mounted on the center fascia without a separate instrument panel on the dashboard like Tesla, but this screen was turned off due to a software error while driving. In this way, the driver cannot see any information, including maps and speedometers. At that time, VinFast recalled all 999 units exported to North America.
Earlier in February, Vietnam experienced a recall due to a brake system defect. According to Vietnamese local media VN Express, the target vehicles are the VF8 Eco and VF8 manufactured at the Vinfast Haiphong factory from September last year to February this year.2781 plus models. An official from Vinfast explained, “Due to an error in assembling the parts, the bolt connecting the front brake caliper and the knuckle was not tightened tightly, which could reduce the effectiveness of the brakes when operating the vehicle.”
After the VF8 entered North America, new problems스포츠토토 are emerging one after another. Inside EV , a U.S. media outlet specializing in electric vehicles, pointed out, “Funny, a Vinfast official warned that ‘driving warnings may sound continuously while driving,’ but it actually did.” ‘Donut’, a car review channel with about 8 million YouTube subscribers, said, “When I tried to change lanes without turning on the turn signal while the Advanced Driver Assistance System ( ADAS ) was operating on the highway, the car suddenly turned the steering wheel back to the original lane.” He said, “I don’t understand how it works by ignoring the driver’s will.”
Motor Trend, an American automobile magazine, pointed out a problem with the VF8 body vibrating severely when reverse gear was engaged. Another professional media outlet, Road Track, said, “It has the worst driving texture,” and “the car shakes when driving, shaking the head, and even people who do not suffer from motion sickness get motion sickness.”
As problems continued to arise, VinFast started offering cash compensation in June. Depending on the severity, it will pay $100 to $300 and offer a 10-year or 125,000-mile (201,168 km) warranty. The battery also promised to apply a 10-year warranty.
VinFast is a subsidiary of Vietnamese conglomerate Vingroup established in June 2017. In July of last year, the production of vehicles with internal combustion engines was completely stopped and production of 100% electric vehicles began. In March of this year, VF8 began to be exported to the United States. Previously, the Korea Automobile Research Institute published a report stating that the future of VinFast should be noted.
The soaring stock price of VinFast on the first day of listing is the result of a combination of low transaction volume and high expectations. It is estimated that only a few million shares can be bought and sold on the market out of a total of 2.3 billion stocks . The price jumped sharply as buyers rushed to the limited stock. It is known that 99% of the shares are controlled by Pham Nhat Vuong, chairman of Vingroup. Shares of VinFast fell for three consecutive trading days from the day after listing, and 50 billion dollars evaporated based on the closing price on the 18th.
The price of the VF8 is $46,000 (about 61.7 million won). Equipped with a 90㎾h battery, it can travel up to 316 miles (500km) based on WLTP (Europe) certification standards when fully charged. It is a family SUV with up to 7 seats in 3 rows . It is currently preparing to enter Korea.