VinFast Auto to Sell Vietnamese Manufacturing Operations for $530 Million

MT Newswires Live05-13

VinFast Auto (VFS) plans to separate some assets from its subsidiary VinFast Trading and Production to form a new company and sell its stake in the unit for $530 million.

The new company, VinFast Vietnam, will hold assets and operations related to global research and development, intellectual property and sales, and will become a direct subsidiary of VinFast Auto, it said.

VinFast Trading and Production will retain manufacturing operations and related assets in Vietnam, which will be sold to a group led by Future Investment Research and Development and includes VinFast Chief Executive Pham Nhat Vuong as a minority investor, the company said.

The restructuring is intended to create a more asset-light operating model and support greater focus on research, technology and global expansion, the company said.

The transactions are expected to close in Q3, it added.

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