Vietnamese electric vehicle maker VinFast plans to spin off and sell its domestic manufacturing business for approximately $530 million (€488.6m) as part of a restructuring aimed at shifting to a more capital-efficient, asset-light operating model. Vietnam News reported on the development, based on a filing with the US Securities and Exchange Commission on 12 May 2026.

Under the plan, VinFast will split certain assets from VinFast Trading and Production JSC (VFTP), its manufacturing subsidiary in Vietnam, into a newly established entity called VinFast Vietnam JSC (VFVN). The new entity will hold global research and development operations, intellectual property, after-sales services, and overseas subsidiaries in Australia and Germany.

VFTP will retain manufacturing-related assets in Vietnam, stakes in VinEG Green Energy Solutions JSC, and certain real estate-related investment agreements, while continuing to assume existing financial liabilities to third-party creditors, subject to creditor approval.

VinFast plans to transfer its entire stake in VFTP to an investor group led by Future Investment Research and Development JSC, with VinFast founder and chief executive Phạm Nhật Vượng participating as a minority investor. The transaction values VFTP at around VNĐ13.3 trillion, equivalent to approximately $530 million (€488.6m).

VFVN and VFTP will sign a manufacturing and supply agreement under which VFTP will continue producing VinFast-branded vehicles in Vietnam based on designs and technical standards provided by VFVN.

VinFast said the restructuring would allow the company to focus on higher-value activities such as product development, technology, brand building, and global sales, while retaining greater flexibility to respond to evolving EV technologies and market dynamics.

The proposed transaction is not expected to affect VinFast's international operations, including manufacturing facilities under development in India and Indonesia. 

Discover the full details of VinFast's manufacturing restructuring here.