Stock Track | VinFast Auto Soars 5.11% in Pre-Market as Plans to Double Production Capacity Emerge

Stock Track12-09

Shares of Vietnamese electric vehicle maker VinFast Auto (VFS) surged 5.11% in Monday's pre-market session, as the company announced plans to construct a second production facility in Vietnam to meet rising demand for its small and mid-sized models.

According to reports, VinFast aims to build a new plant in the central Ha Tinh province with an initial annual production capacity of 300,000 units, effectively doubling its total output to 600,000 vehicles per year. The new factory will primarily manufacture the VF 3 and VF 5 models for both domestic sales and exports, with operations scheduled to commence in July 2025.

This capacity expansion is seen as a positive sign by investors, reflecting strong demand for VinFast's electric vehicles. The move positions the company to capitalize on the growing global appetite for sustainable transportation solutions, further boosting its prospects in the rapidly evolving EV market.

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