Vietnam’s VinFast Now World’s Third-Largest Carmaker in Post-IPO Surge

(Nikkei Asia) — The Vietnamese electric-vehicle maker (EV) VinFast Auto Ltd. now has the third-highest market capitalization among global automakers, behind only U.S.-based Tesla Inc. and Japan’s Toyota Motor Corp.

The company’s shares rose 20% in the U.S. market on Monday and its market capitalization reached $191.2 billion, according to CNBC. The company’s U.S. operations have yet to get fully underway, but the EV boom there has led to a rush of purchases by individual investors.