According to reports, VinFast, the Vietnamese electric car manufacturer, is preparing to go public in the U.S. next month through a merger with a SPAC (special purpose acquisition company).
In a collaborative statement released on Friday, VinFast and the SPAC entity, Black Spade Acquisition, announced their intentions to finalize the merger by August. An extraordinary general meeting is scheduled by Black Spade for August 10, during which the proposed business combination with VinFast will be put to a vote. Based on the statement, the potential market valuation of the merged entity could reach $23 billion.
VinFast has already introduced approximately 3,000 electric vehicles into the U.S. market. Additionally, the company marked the commencement of a new $4 billion electric vehicle production facility in North Carolina this Friday.
Vietnamese EV Maker VinFast Going Public in the US Next Month
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