Vietnamese EV automaker VinFast has just secured more funding to continue its operations. VinFast has been offered a loan for billions more from its parent company, Vingroup, including a $2.1 billion “sponsorship” from the Group’s chairman, Pham Nhat Vuong. All this is to achieve a break-even point and cash flow balance by the end of 2026.
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VinFast’s founder has announced a new arm called V-Green to build EV chargers, focused on bolstering global access while prioritizing sessions for VinFast drivers, accelerating the Vietnamese automaker’s expansion into new markets.
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Vietnamese EV automaker VinFast can continue its development and steadfast global expansion, thanks to a fresh round of funding from parent company VinGroup and its chair, Mr. Pham Nhat Vuong. The chair has offered up $1 billion of his own assets to the automotive branch just months after telling the public that the well had run dry.
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Energy solutions division VinES – a member of Vingroup alongside VinFast – and Gotion Inc have broken ground on a 34.5 acre LFP battery factory designed with an annual capacity of 5 GWh. That equates to roughly 30 million battery cells per year to support future VinFast EVs.
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