On November 12, Vingroup Corporation and Mr. Pham Nhat Vuong announced their commitment to provide financial support to VinFast Company.

Accordingly, from now until the end of 2026, Vingroup plans to lend VinFast a maximum of 35,000 billion VND, and Mr. Pham Nhat Vuong also committed to sponsor VinFast with 50,000 billion VND.

“On Mr. Pham Nhat Vuong's side - as CEO and major shareholder of VinFast, the VND50,000 billion sponsorship was arranged from personal assets, not affecting the interests of Vingroup and VinFast shareholders,” Vingroup said.

At the same time, Vingroup said it will invest more in VinFast Vietnam, by converting all existing loans of about VND80,000 billion into dividend-entitled preferred shares.

Vingroup said the plan aims to help VinFast have enough resources and additional reserves to finance business operations, essential investments and fulfill other company obligations.

At the same time, the company aims to reach break-even point and balance its cash flow by the end of 2026.

At the same time, VinFast continues to actively implement independent capital mobilization plans for its capital needs, and only uses support from Vingroup and Mr. Pham Nhat Vuong if capital mobilization does not meet the expected plan.

Currently, VinFast has completed the basic investment phase with the operation of an automobile manufacturing plant with a maximum capacity of up to 300,000 vehicles/year in Cat Hai - Hai Phong.

Previously, according to the report for the first 10 months of the year, VinFast delivered more than 51,000 electric cars of all kinds to the Vietnamese market, officially surpassing foreign car manufacturers to capture the largest market share.

Notably, VinFast is also the first electric car company to surpass rival gasoline car companies after just over 2 years of switching to pure electric.

In the international market, VinFast is present in the US, Canada, Europe and has begun to penetrate new markets such as the Middle East, Indonesia, Philippines, India, etc.