Is VinFast the Next Fisker and Headed to $0?

VinFast Auto (NASDAQ: VFS) was an intriguing electric vehicle (EV) maker from the moment it went public. It has state-of-the-art production facilities, dominates its home market in Vietnam, has the backing of a wealthy founder, and touts its international ambitions.While it managed to capture the imaginations of investors hoping they found a diamond in the rough with immense upside, the automaker has failed to capture sales in the U.S. and European markets. Is VinFast doomed to shut its doors and become the next Fisker?After dominating its home market, VinFast drooled at the idea of becoming a major player in two of the world's most important EV markets, the U.S. and Europe. VinFast entered California in 2022 with plans to develop a large direct-sales network across the U.S., but after struggling to lure consumers to its brand the company is now rapidly switching its business model to a franchised dealer network. It now has almost 30 franchised dealerships in 14 states. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool