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Vingroup and its Chairman finance to help VinFast break even

Although VinFast is performing well in Vietnam, its expansion plans in the US have created a financial burden that requires assistance. By Will Girling

Amid increasingly challenging global market conditions, electric vehicle (EV) maker VinFast stated on 12 November 2024 that it has secured Vietnamese Dong 35tr (US$1.4bn) in funding from its parent company Vingroup. It will also receive a personal pledge of Vietnamese Dong 50tr from Chairman Pham Nhat Vuong, who is the majority (97.9%) shareholder. Through this cash injection, VinFast hopes to improve its cash flow and break even by 2026.

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