The new entity will be transferred to an investor group led by Future Investment and Development Research JSC, with participation from VinFast founder Pham Nhat Vuong.Vietnam-based EV maker VinFast on Wednesday announced a strategic restructuring of its Vietnam operations, a shift towards an asset-light operating model aimed at streamlining operations and optimising capital efficiency in line with international practices.
An asset-light model has become increasingly popular across industries because it allows companies to optimise capital deployment while improving operational agility.
Under the restructuring plan, VinFast’s manufacturing assets, including the company’s factories in Hai Phong and Ha Tinh, will be separated into a new legal entity known as VFTP (VinFast Trading and Production JSC).
The new entity will be transferred to an investor group led by Future Investment and Development Research JSC, with participation from VinFast founder Pham Nhat Vuong. The transaction is valued at approximately VND13.3 trillion or $530 million.
According to the company, post-restructuring, VFTP may expand into contract manufacturing and assembly partnerships for other companies in the future, besides continuing to manufacture vehicles. Alongside production-related assets, VFTP will also assume approximately VND182 trillion (around $7.3 billion) in liabilities associated with manufacturing activities.
The company said VFVN (VinFast Vietnam Joint Stock Company) will retain the higher-value segments of the business, including research and development, product engineering, technology, market expansion, sales, marketing, after-sales services, and customer experience management.
“VinFast will continue retaining its global manufacturing operations, while in Vietnam, Future will manufacture vehicles under contract for VinFast. The remaining operations are outside the scope of this transaction, remain under VinFast, and continue operating normally,” said Thai Thi Thanh Hai, Vice-CEO of VinFast.
Long-term viability
By restructuring manufacturing into a specialised entity, VinFast can sharpen its focus on areas that create stronger long-term differentiation and higher margins. The company can continue controlling product standards, technology development, customer relationships, and brand positioning without carrying the full financial burden of domestic manufacturing assets.
At the same time, VFTP can operate as a dedicated production platform with greater flexibility to expand partnerships and improve manufacturing utilisation rates over time.
The move could be a “pragmatic path to long-term viability” for the company, Quynh Cao, head of institutional business at VNDirect Securities Corp, told Bloomberg.
Following the transaction, VinFast expects to significantly reduce its debt burden, improve its balance sheet and channel more resources toward growth initiatives. The company said the restructuring could help it achieve profitability from 2027 onwards.
VinFast also clarified that the restructuring would not impact customers, adding that vehicle production, warranty support, after-sales services and quality oversight would continue without disruption.
