Vietnam EV maker VinFast says it will undergo corporate restructuring

[HANOI] VinFast is planning to sell its Vietnam manufacturing facilities to a buyer group that includes its founder and chief executive Pham Nhat Vuong, with the loss-making electric vehicle maker aiming to restructure its local operations into a more “asset-light” model, a company filing showed.

VinFast said it will separate manufacturing assets held by subsidiary VinFast Trading and Production JSC (VFTP) and transfer the unit to a purchaser group led by Future Investment Research and Development JSC, in a deal valued at about 13.3 trillion dong (S$642.4 million), according to the filing dated May 12.

Following the restructuring, VinFast will retain its R&D, intellectual property, sales and after-sales operations, while the divested entity will continue producing VinFast-branded vehicles under a manufacturing agreement.

The company said the transaction would reduce future capital expenditure requirements and allow it to focus more on international expansion.

The deal is expected to close in the third quarter of 2026, subject to shareholder and creditor approvals.

The automaker posted a fourth-quarter net loss of US$1.34 billion, up 15 per cent from a year earlier, and has said it expects to reach Ebitda breakeven in 2027.

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In August last year, VinFast also announced the spinoff of its research and development unit, Novatech, to Vuong for about 39.8 trillion dong, in a move that effectively acted as a capital injection from the founder to support the company’s operations and break-even goals. REUTERS