VinFast, Vietnam's electric vehicle maker, announced in June 2026 that it will sell its Vietnamese manufacturing business for approximately US$506 million (about 13.3 trillion VND) and transfer around US$6.9–7 billion in debt to the buyers [1, 2].
The sale is part of a major restructuring aimed at freeing VinFast from its massive debt burden. The company will adopt an "asset-light" model, focusing on research and product development instead of owning manufacturing assets directly [1, 2]. VinFast has recorded losses amounting to US$3.9 billion in the last year and has not turned a profit since it was founded in 2017 [1].
VinFast is a subsidiary of Vingroup, Vietnam's largest conglomerate founded by billionaire Pham Nhat Vuong [1, 2]. The transaction has raised governance concerns among observers due to the deal's complexity and because several investors involved are affiliated with Vingroup and its founder [1, 2].
The company acquiring more than 95% of VinFast's manufacturing business is controlled by Nguyen Hoai Nam, a real estate businessman and board member of Vincom Retail, a part of Vingroup [1].
By shedding heavy manufacturing liabilities, VinFast aims to stabilize its finances and refocus its business strategy. The planned transaction announced in June is the latest step in restructuring efforts to address its financial losses and debt load [1, 2].
