(Note: VinFast Auto Ltd. withdrew its IPO plans in an SEC filing dated May 30, 2023. The F-1 was filed Dec. 6, 2022. Background: VinFast Auto Ltd. announced on May 12, 2023, that it intends to go public via a SPAC merger with NYSE-listed Black Spade Acquisition Corp. The business combination, if approved, will give VinFast a market cap of about $23 billion, according to financial news reports.) 

We are an innovative full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters (“e-scooters”) and electric buses (“e-buses”). (**Note: Estimated IPO proceeds are $100 million, but some on Wall Street believe that this IPO could raise $1 billion.)

Our initial EV product line is an all-new range of fully electric A- through E-segment SUVs, the first of which began production in December 2021. We focus strategically and exclusively on EVs and have phased out all remaining ICE vehicle products over the course of 2022, in order to execute on our vision of creating an e-mobility ecosystem built around customers, community and connectivity alongside our new vehicle roll-out. We plan to deliver on this strategy by leveraging our manufacturing expertise and strong track record of producing ICE vehicles and e-scooters. We started producing e-scooters in 2018, passenger cars in 2019 and e-buses in 2020. We have delivered nearly 88,000 vehicles (primarily ICE vehicles) and over 145,000 e-scooters through the end of September 2022. Innovation is at the heart of everything we do. We focus on achieving operational efficiency and technological integration, and we seek to continuously improve our processes to deliver world-class products.

We plan to sell our line of electric SUVs in key global markets, specifically targeting North America (primarily the U.S. and Canada) and Europe, in addition to our existing market in Vietnam. are fully-electric D-segment and E-segment SUVs, respectively, designed for the global consumer market. We had reservations for approximately 58,000 VF 8 and VF 9 EVs globally as of September 30, 2022, of which approximately 20% were reservations with non-refundable reservation fees and the remainder are cancellable reservations with small refundable reservation fees. We shipped the first batch of the VF 8 to the U.S. in November 2022. We expect first deliveries of the VF 8 to be made in the U.S. in December 2022 and in Europe in early 2023 and first deliveries of the VF 9 to be made in the U.S. and Europe in early 2023. We currently offer two trims of the VF 8 and VF 9: Eco and Plus. We plan to introduce new trims for the VF 8 and VF 9 in the next two years to provide a comprehensive and higher-end product offering, focusing on sustainable materials and adding more premium features such as higher-end interior materials, elevated smart features and enhanced advanced driver-assistance systems (“ADAS”). In addition, we expect to launch the VF 5, VF 6 and VF 7, our A- through C-segment vehicles in 2023. The VF 5 is an A-segment EV SUV for the Vietnam market that offers dynamic youthful styling, targeting first time, budget conscious buyers. The VF 6 is a B-segment EV SUV for the family-oriented driver. The VF 7 is characterized as a driver centric C-segment EV SUV, accentuated by its futuristic styling. For the VF 6 and VF 7, we plan to offer Eco and Plus trims in both Left Hand Drive and Right Hand Drive versions to target international markets. See “Risk Factors — Risks Relating to Our Business and Industry — Our long-term results depend upon our ability to successfully introduce and market new products and services, which may expose us to new and increased challenges and risks.”

We have achieved a great deal in our short history. Following the founding of our company in 2017, we achieved start of production of our first ICE vehicle in only 21 months. As a new entrant and the first Vietnamese automotive original equipment manufacturer (“OEM”), we have partnered with top-tier global companies, including Magna Steyr Fahrzeugtechnik AG & Co KG (“Magna”), Tata Technologies, ZF Friedrichshafen AG (“ZF”) and Pininfarina S.p.A. (“Pininfarina”) to accelerate the integration of industry best practices into our processes. Deliveries of our first fully-electric SUV, the VF e34, began in Vietnam in December 2021. We began delivering the VF 8 in September 2022 in Vietnam. 

We are a majority-owned affiliate of Vingroup, one of the largest companies listed on the Ho Chi Minh Stock Exchange with a combined market capitalization of approximately $24.0 billion as of Nov. 30, 2022, across Vingroup and all of its listed subsidiaries, which together contributed 1.5% to Vietnam’s GDP in 2021 based on their 2021 consolidated revenue. 

**Note: Net loss and revenue figures are in U.S. dollars (converted from the Viet Nam Dollar (VND) ) for the fiscal year that ended Dec. 31, 2022.

**For the fiscal year that ended Dec. 31, 2021: Net loss of $1,348.1 million ($1.35 billion) on revenue of $670.6 million.

(VinFast Auto Ltd. filed an F-1/A dated March 9, 2023, in which it added BofA Securities to the lineup of joint book-runners, but it did not disclose terms for its IPO. VinFast Auto Ltd. also updated its financial statements for the year ended Dec. 31, 2022, in its F-1/A filing dated March 9, 2023. The F-1 was filed Dec. 6, 2022.)