VINFAST COMMERCIAL AND SERVICES TRADING LIMITED LIABILITY COMPANY

VINFAST COMMERCIAL AND SERVICES TRADING LIMITED LIABILITY COMPANY (CÔNG TY TNHH KINH DOANH THƯƠNG MẠI VÀ DỊCH VỤ VINFAST) is a prominent player in Vietnam's electric vehicle (EV) industry. As a subsidiary of Vingroup, one of Vietnam's largest conglomerates, VINFAST has rapidly expanded its presence in the domestic and international markets. Established on October 1, 2019, the company is registered under the Hanoi City Department of Planning and Investment with Business ID 0108926276. It operates as a privately held limited liability company with a charter capital of USD 8.2 million.

VINFAST specializes in the retail sale of electric cars and motorbikes, focusing on sustainable and innovative transportation solutions. Its headquarters is located at No. 7, Bang Lang 1 Street, Vinhomes Riverside Urban Area, Viet Hung Ward, Long Bien District, Hanoi, with branches in Quang Ninh, Ha Tinh, and Hanoi. The company has gained significant market traction by promoting clean energy vehicles, aligning with Vietnam’s push for environmental sustainability.

The management of VINFAST is spearheaded by General Director Duong Thi Thu Trang and Chairman of the Members' Council Nguyen Mai Hoa, both of whom play crucial roles in the company’s strategic direction. The majority shareholder, Vingroup Investment Vietnam Joint Stock Company, owns 99.5% of the company, reinforcing VINFAST’s strong backing and integration within the Vingroup ecosystem.

Financially, VINFAST has seen remarkable growth in total assets and sales, although profitability remains a challenge. As of the fiscal year ending December 31, 2023, the company reported total assets of USD 588.2 million, marking a 26.77% increase from the previous year. Sales reached USD 1.22 billion, reflecting an impressive 76.11% year-on-year growth. However, equity declined to USD -72.49 million, while net worth stood at USD -73.85 million. Despite a loss of USD -24.54 million, VINFAST showed a 49.07% improvement in profitability compared to the previous year.

VINFAST's business operations extend beyond vehicle retail. The company is involved in repair and maintenance services for fabricated metal products, machinery, transport equipment, and other industrial devices. It also engages in freight and passenger transportation, warehousing, and various food service activities.

Vanguard Business Information LLC (VBI), a leader in business intelligence and financial analysis, recognizes VINFAST as a transformative force in Vietnam’s automotive industry. Despite financial challenges, VINFAST’s aggressive expansion and technological innovation position it as a key player in the country’s shift toward sustainable mobility. Investors and industry analysts tracking Vietnam’s EV market should closely monitor VINFAST’s strategies to achieve profitability and long-term sustainability.