VinFast Vietnam Doubles Capital to $388M, Streamlining Global Auto Design and Sales

VinFast Vietnam, a budding organization specializing in the design and sale of VinFast vehicles, recently increased its capital funds substantially. The company doubled its capital from VND5.18 trillion to VND10.18 trillion, equivalent to US$388 million, by issuing 500 million preference shares. This significant financial move was announced on July 13 via the National Business Registration Portal. Alongside this, it was revealed that foreign ownership within the company has seen a decline from 10.4% to 5.3%.

Company Restructuring and Roles

The creation of VinFast Vietnam was initiated on June 19, following the sale of the automaker’s manufacturing operations, VFTP, to Tuong Lai Company. This company is financially backed by billionaire Pham Nhat Vuong along with a group of investors. VinFast Vietnam has been assigned the responsibilities of global research and development, managing after-sales services, and overseeing sales operations.

The managerial roles within VinFast Vietnam have been clearly delineated. Pham Nhat Vuong, the founder of the parent organization, serves as the company’s CEO. On the other hand, Thai Thi Thanh Hai, a seasoned executive from Vingroup, has been appointed as the chairwoman.

Questions & Answers

What led to the creation of VinFast Vietnam?
The company was established after the sale of automaker manufacturing operations, VFTP, to Tuong Lai Company.

What are the primary responsibilities of VinFast Vietnam?
The company is in charge of global research and development, after-sales services, and sales operations.

Who are the key executives of VinFast Vietnam?
Pham Nhat Vuong serves as the company’s CEO, while Thai Thi Thanh Hai is the chairwoman.