Article said that VinFast has unveiled plans for a substantial expansion into seven additional Asian markets, with a particular focus on Indonesia. The company, primarily controlled by Vietnam's wealthiest individual, Pham Nhat Vuong, and affiliated with Vingroup, intends to invest approximately 1.2 billion USD in Indonesia over the long term. A significant portion of this investment, up to 200 million USD, is allocated for the construction of a new Indonesian plant, scheduled for operation in 2026, with an annual production capacity ranging from 30,000 to 50,000 units. Indonesia, being Southeast Asia's largest economy with a population of 270 million, is actively working to attract global electric vehicle manufacturers, primarily due to its rich nickel reserves, a vital component in EV batteries. Currently, electric vehicles constitute less than 1% of the country's total vehicle count. This forthcoming Indonesian facility will become VinFast's third, alongside its principal one in Haiphong, Vietnam, and a newly planned plant in North Carolina, set to commence operations in 2025. Since its inception in 2017, VinFast has consistently unveiled ambitious plans for global EV expansion.
Very good news for the company in my opinion, especially Asia being one of the strongest EV markets in the world. Article also continued that in its filing, the electric vehicle manufacturer also disclosed plans to establish a foothold in several countries, including India, Malaysia, the Middle East, Africa, and Latin America, demonstrating a comprehensive expansion strategy targeting approximately 40 to 50 potential markets.
As for their stocks, VinFast is just a newcomer to the markets, as their stocks started publicly trading on 18th of August, so not even one month ago. Since coming to the market, stocks have provided a return of 11,75%, however, this number comes after the down trend.* The highest return they provided on 28th of August, when the price reached 82,35 USD per stock, or 122% return.*
I believe that there is big competition in this sector, however, they have very strong ambitions and plans. That is the reason I will closely follow their stocks movement.
Movement of VinFast stocks since coming to the market. (Source: Investing) *
* Past performance is no guarantee of future results.
 Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.