Vietnamese startup VinFast, which debuted as a public company Tuesday, had just 151 U.S. new-vehicle registrations in the first half of the year for its newly launched VF 8 electric crossover, according to Experian data.
The modest volume contrasts with VinFast's sky-high valuation after listing on the Nasdaq through a merger. Its surging stock price pushed its market capitalization above that of General Motors and Ford Motor Co., Bloomberg reported.
Shares in VinFast have retreated from the initial offering, plunging 33 percent on Thursday to close at $20.