VinFast reported to the US SEC that Vingroup committed to convert up to 80 trillion VND (3.1 billion USD) of loans into equity. From a loan of 35 trillion VND (1.4 billion USD) announced in 2024, as of September 30, 2025, VinFast disbursed 28 trillion VND. Additionally, Pham Nhat Vuong funded VinFast with 50 trillion VND. VIN separates investment costs into a new company, Novatech, which Vuong bought back ownership from. VinFast also borrowed an additional 250 million USD from MUFG and Barclays. In the first nine months of 2025, VinFast delivered 110,000 vehicles, up 149% year-on-year, with revenue of 719 million USD, up 47%. In Q3/2025, VinFast delivered 38,195 electric cars and 120,052 electric motorcycles, achieving a 535% increase in motorcycles compared to last year. Quarterly revenue reached 18.1 trillion VND (718.6 million USD), up 46.8% year-on-year.
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