Edison Group has initiated coverage on VinFast Auto Ltd., assigning a valuation of US$8.00 per share, indicating a potential upside of around 143 percent from current levels. The assessment highlights VinFast’s strong positioning in Southeast Asia’s fast-growing electric vehicle (EV) market and its expanding regional footprint.
In its initiation report titled “Scaling up for regional EV adoption,” Edison’s head of industrials research, Andrew Keen, described VinFast as Southeast Asia’s only fully integrated, pure-play EV manufacturer. The report notes the company’s leadership in its home market of Vietnam and its accelerating expansion across key regional markets including India, Indonesia and the Philippines.
Edison emphasized VinFast’s differentiated business model, which combines extended vehicle warranties, strong after-sales support and flexible ownership solutions designed to lower entry barriers for customers and improve long-term retention. The report also underlined VinFast’s technology-driven roadmap, supported by Platform 2.0 and E/E Architecture 2.0, aimed at improving scalability and cost efficiency as volumes rise.
According to Edison, VinFast currently has manufacturing capacity of around 600,000 vehicles per year across Vietnam, India and Indonesia, supported by a diversified battery sourcing strategy. The company’s integrated green mobility ecosystem—comprising GSM ride-hailing services, V-GREEN charging infrastructure and the Green Future used-EV platform—was highlighted as a key competitive advantage that enhances customer access and market penetration.
Edison’s valuation is based on expectations of a sustained volume ramp-up, improving operating leverage and margin normalization as VinFast scales manufacturing, technology deployment and ecosystem-led distribution. The report also pointed to strong financial and strategic backing from Vingroup, VinFast’s majority shareholder, as a critical factor supporting the company’s long-term regional expansion.
VinFast said the Edison coverage reinforces its position as a leading EV player in Southeast Asia, aligned with its mission to deliver accessible, smart and sustainable mobility solutions while accelerating the region’s transition to green transportation.
