According to Vingroup’s consolidated financial report, Pham Nhat Vuong funded VinFast a total of 27,257 billion VND in 2023 and 2024, including 18,980 billion VND and 8,277 billion VND. He committed to funding 50,000 billion VND for VinFast by 2026, with 5,000 billion VND being disbursed in Q4 2024. Currently, he has 22,743 billion VND left to fulfill this commitment. Additionally, Vuong announced he would continue to fund another 1 billion USD from personal assets for VinFast. VinFast also received the transfer of VinES from Vingroup for 0 VND to develop battery technology for electric vehicles. Vingroup plans to lend VinFast up to 35,000 billion VND and convert an existing 80,000 billion VND loan into preferred shares. This is to support VinFast in achieving profitability by 2026. Vuong stated that he would continue to support VinFast “until the money runs out.”.
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