Some of VinFast’s rivals, including Nikola Corp. and Lucid Motors, have seen their valuations plunge after their SPAC listings. Nikola now commands a market value of $1.4 billion, versus $13.9 billion before listing while Lucid has a market value of $15.5 billion, versus $24 billion during its 2021 SPAC deal.
Shares in other rivals which did not list via SPACs, including Tesla Inc. and Rivian Automotive Inc., have performed better. Tesla shares are up 94.6 percent this year…
Comments are closed