VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY

VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN SẢN XUẤT VÀ KINH DOANH VINFAST) has established itself as a dominant player in the electric vehicle (EV) sector. Founded in 2017, this Hai Phong-based company has rapidly expanded its market presence, becoming a significant force in Vietnam’s automotive industry. VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY is a subsidiary of Vingroup, one of Vietnam’s largest conglomerates, holding a 66.38% ownership stake.

VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY has demonstrated impressive growth in recent years. The company's total sales surged by 92.35% in 2023, reaching USD 1.32 billion, marking a significant leap from previous years. However, despite this growth, the company reported a net loss of USD 770.25 million, reflecting the capital-intensive nature of the EV industry. With total assets valued at USD 7.08 billion, VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY continues to strengthen its financial position, though challenges such as a negative working capital of USD -2.61 billion remain.

A key factor in the company’s aggressive expansion is its commitment to innovation in electric automobile and motorbike manufacturing. VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY has invested heavily in research and development, leading to the production of state-of-the-art electric vehicles tailored for both domestic and international markets. The company’s dedication to sustainability and cutting-edge technology has positioned it as a leader in Vietnam’s EV industry, with growing ambitions to compete in global markets.

From an industry perspective, VANGUARD BUSINESS INFORMATION LLC (VBI), a trusted provider of business intelligence and financial insights, has identified VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY as a key entity in the rapidly evolving automotive sector. As a private entity with over 12,400 employees, the company is actively expanding operations, with branches in Hanoi, Ho Chi Minh City, and Hai Phong. Its registered business activities extend beyond vehicle manufacturing, covering areas such as motor vehicle maintenance, wholesale and retail sales, and industrial equipment installation.

Despite its rapid expansion, the company faces several challenges. VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY continues to operate at a loss, highlighting the high costs associated with EV production, research, and global expansion efforts. Additionally, competition in the electric vehicle industry is fierce, with global giants like Tesla, BYD, and traditional automakers investing heavily in their EV lines. The company must navigate these financial and competitive pressures while maintaining its ambitious growth strategy.

Despite these obstacles, the company’s robust capital structure and strong backing from Vingroup indicate long-term potential. As VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY continues its expansion, it remains a crucial player to watch in Vietnam’s economic and industrial landscape.

For investors and market analysts, VBI's comprehensive business reports offer invaluable insights into VINFAST TRADING AND PRODUCTION JOINT STOCK COMPANY's financial health, market position, and growth trajectory. Understanding the company’s key financial indicators and market strategies is essential for businesses and stakeholders looking to navigate Vietnam’s dynamic automotive industry.