In a recent filing with the U.S. Securities and Exchange Commission (SEC), VinFast disclosed a commitment from Vingroup to convert up to VND 80,000 billion ($3.1 billion) of loans into equity for VinFast VFTP.
Regarding Vingroup’s announcement in late 2024 about lending VinFast VND 35,000 billion ($1.4 billion) from December 2024 to December 2026, VinFast’s report indicates that VND 11,580 billion has been disbursed so far.
In November 2024, VinFast’s founder and CEO, Pham Nhat Vuong, pledged to provide VND 50,000 billion in funding to VinFast. As of September 30, 2025, a total of VND 28,000 billion ($1.1 billion) has been disbursed.
In August 2025, VinFast spun off certain assets related to completed R&D projects into a new company called Novatech. Subsequently, Pham Nhat Vuong acquired VinFast’s stake in Novatech for approximately VND 39.8 trillion ($1.6 billion).
As of September 30, 2025, a total of VND 25,782 billion ($1 billion) has been disbursed, with the remaining payments expected by year-end.
Additionally, VinFast’s report mentioned loans of $100 million from MUFG Bank and $150 million from Barclays Bank.
In the first nine months of 2025, VinFast delivered over 110,000 vehicles, a 149% increase year-over-year. Focusing on revenue growth, VinFast reported $719 million in revenue, up 47% from the same period in 2024.
VinFast delivered 38,195 electric vehicles globally in Q3/2025, a 74% increase year-over-year and 7% from Q2. In the first nine months of 2025, global deliveries reached 110,362 vehicles, up 149% year-over-year.
Deliveries of electric motorbikes and e-bikes in Q3/2025 totaled 120,052 units, a 535% increase year-over-year and 73% from Q2. For the first nine months, total deliveries reached 234,536 units, up 489% year-over-year.
In Q3/2025, total revenue was VND 18,100.2 billion ($718.6 million), a 46.8% increase year-over-year and 9% from Q2/2025.
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