VinFast manufacturing unit becomes 100% domestically owned

VinFast Manufacturing and Trading JSC (VFTP), the entity holding VinFast's production facilities, has transitioned to being 100% domestically owned. Following a corporate restructuring, VinFast Auto Ltd., which was headquartered in Singapore and previously held over 10% of VFTP, no longer holds any shares in the company.

Under the new structure, a new entity named VinFast Vietnam Joint Stock Company (VFVN) will be spun off from VFTP to serve as a direct subsidiary of VinFast. VFVN will manage global R&D, intellectual property, after-sales services, and sales operations, including stakes in VinFast Engineering Australia and VinFast Germany GmbH. VFTP will retain assets related to manufacturing plants in Vietnam and continue to manage financial debts with third-party creditors.

VinFast remains a leading automotive brand in Vietnam, reporting sales of 137,697 vehicles in the first seven months of the year, surpassing competitors such as Toyota, Hyundai-TC, and THACO.