The Next Big EV Stock Could Be Here, And You May Have Never Heard Its Name
As the world races to fill streets with electric vehicles (EVs), investors are quickly turning their heads to start-up EV makers to find the next (NASDAQ: TSLA). Rivian Automotive (NASDAQ: RIVN) and Lucid (NASDAQ: LCID) are ramping up production, while traditional juggernauts such as Ford Motor (NYSE: F) are stepping on the gas to accelerate their transition.
With that said, another EV stock has been hitting the market, and you may have never heard its name: VinFast Auto (NASDAQ: VFS). Before you jump along for the ride, here are some things to know.
VinFast, a member of Vingroup JSC in Vietnam, was founded in 2017. It manufacturers and exports a number of electric SUVs, scooters, and buses across Vietnam, North America, and, in the near-term, Europe. The EV maker operates a state-of-the-art plant in Hai Phong that boasts up to 90% manufacturing automation and annual production capacity up to 300,000 units.
Source Fool.com