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PROPERTY, PLANT AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT, NET |
PROPERTY, PLANT AND EQUIPMENT, NET | 9.PROPERTY, PLANT AND EQUIPMENT, NET ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ |  | 2022 |  | 2023 |  | 2023
​ | ​ | VND million | ​ | VND million | ​ | USD
Freehold land |  | 1,854,095 | ​ | 2,014,497 | ​ | 84,408,657
Buildings and structures |  | 18,212,817 | ​ | 20,730,635 | ​ | 868,626,288
Machinery and equipment |  | 42,641,762 | ​ | 53,408,565 | ​ | 2,237,851,546
Leased-out batteries |  | 2,383,095 | ​ | 4,782,818 | ​ | 200,403,000
Vehicles |  | 1,135,902 | ​ | 2,316,130 | ​ | 97,047,264
Office equipment |  | 861,099 | ​ | 845,043 | ​ | 35,407,819
Others |  | 92,280 | ​ | 102,120 | ​ | 4,278,890
Subtotal |  | 67,181,050 |  | 84,199,808 |  | 3,528,023,464
Less: Accumulated depreciation |  | (8,938,736) |  | (14,443,576) |  | (605,194,670)
Less: Impairment charges |  | (1,053,647) |  | (2,077,258) |  | (87,038,381)
Total property, plant and equipment, net |  | 57,188,667 |  | 67,678,974 |  | 2,835,790,413
​ The Group recorded depreciation expenses of VND5,849,238 million (USD245.1 million), VND3,924,658 million and VND3,981,389 million for the years ended December 31, 2023, 2022 and 2021 respectively. In 2023, the Group identified specific impairment indicators associated with individual assets of leased-out batteries due to competitive lease subscription fee provided to customers. The Group impaired these identified assets based on contractual lease payments agreed with customers. Impairment charges of VND1,023,611 million (USD42.9 million) relating to leased-out batteries under the Automotive and E-scooter segments were recognized during the year (2022: VND1,053,647 million). As of December 31, 2023, a portion of property, plant and equipment was mortgaged with banks to secure the Group’s loans and debts (Note 11). As of December 31, 2022, certain items of property, plant and equipment were classified as non-current assets held for sale due to the plan to dispose of these assets (Note 23). During the year, the amount of interest cost that has been capitalized is VND669.4 billion (USD28.0 million) (2022: VND357 billion, 2021: VND323 billion).

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