Reuters shines a light on Vietnam’s answer to Tesla

Reuters shone a light on a line of cars being made by Vietnam’s Vingroup conglomerate. A recent arrival on the automotive scene and the No. 5 car brand in Vietnam, the group’s VinFast line of cars is not short on ambition, with its sights set on a U.S. listing and a valuation of as much as $60 billion, two sources told Reuters. It’s betting big on the U.S. market and hoping that electric SUVs and a battery leasing model will be enough to woo consumers away from homegrown market leaders like Tesla and General Motors Co.