Vietnam-based electric-vehicle maker VinFast mentioned on Tuesday it has filed for an preliminary public providing in the US and plans to record its peculiar shares on the Nasdaq underneath ticker image “VFS”.

For the IPO, the corporate mentioned it’s going to convert to a Singapore public restricted firm and will probably be often called VinFast Auto Ltd., whereas the variety of shares to be supplied and the worth vary for the proposed providing haven’t but been decided.

Whereas no timeframe was specified on Tuesday for the providing, the IPO was initially slated for the fourth quarter of this 12 months, the corporate had beforehand mentioned.

The corporate’s father or mother, Vingroup conglomerate, mentioned in Might that the IPO perhaps delayed to 2023 on account of market uncertainty.

VinFast, which started operations in 2019, is betting massive on the U.S. market, the place it hopes to compete with legacy automakers and startups with its two all-electric SUVs and a battery leasing mannequin that can scale back the car buy worth.

It’s additionally providing automobiles in Canada.

In April, VinFast’s Singapore-based holding firm filed for a confidential IPO with U.S. securities regulators, because it readied a US$4-billion funding to construct a manufacturing unit in the US.

The corporate in late November shipped its first batch of 999 automobiles to the US, capping a five-year bid to develop an auto manufacturing hub in Vietnam for markets in North America and Europe.