The hottest question we receive those days about Vingroup CEO Mr Pham Nhat Vuong, is whether Vinfast EV IPO will be the next Elon Musk Tesla?
For start-ups in tech Venture capitalists like Peter Thiel, Paypal co-founder with Elon Musk, here are the 7 questions testing entrepreneurs before investing in their new business.
Let’s see how Vinfast EV, launched on the Nasdaq mid august 2023 rat out of 7?
As EV carmaking is definitely a tech business from dashboard software to optimize driving to battery duration and refill speed, it is legitimate to ask if a Mr Vuong, a Vietnamese real estate oligarch business 1.0 can make it to lead new EV carmaker 3.0 business to success from a cumulated US$
ENGINEERING: Can you create breakthrough technology i/o incremental improvements 10x.
NO as the company was started in 2017 from scratch building their 1st factory in Hai Phong in record timing of 2 years.
2- TIMING: Is now the right time to start your particular business
NO as China slashes prices to get EU market share and Tesla also slashed their prices twice in the USA and now in the rest of the world.
3- MONOPOLY: Are you starting with a big share of a small market?
NO as selling cars to GSM taxi (Green and Smart Mobility), a Vingroup CEO Pham Nhat Vuong subsidiary, does not count as sales for the SEC Securities and Exchange Commissions regulating the Nasdaq and protecting investors.
4- PEOPLE: Do you have the right team?
NO as the mercenary recruiting policy to jump the next hurdle may not build the team necessary to the huge challenge of EV and green energy regulations
5- DISTRIBUTION: Do you have a way to deliver your products effectively?
NO as the first batch of 999 EV cars shipped from Hai Phong, Vietnam to the USA end Nov-2022 and recalled for security reasons 6-months later is probably the costliest recall of all times in automobile history.
6- DURABILITY: Will your market position be defensible in 10-20 years
NO, With shrinking revenue from Vingroup real estate juggernaut, flagship Vinhomes, how much longer can Vinfast EV lose US$ 1-to-1.5 billion per year?
7- SECRET: Have you identified a unique opportunity others don’t see?
NO, since 2022 official launch of the all-EV strategy, we have not seen any of the EV carmakers problems solved apart from pouring more money into the start-up venture.
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