XML 33 R9.htm IDEA: XBRL DOCUMENT
v3.25.1

ORGANIZATION AND NATURE OF OPERATIONS | 12 Months Ended
--- | ---
Dec. 31, 2024
ORGANIZATION AND NATURE OF OPERATIONS |
ORGANIZATION AND NATURE OF OPERATIONS | 1.ORGANIZATION AND NATURE OF OPERATIONS (a)The Corporate information VinFast Auto Ltd. (“VinFast Auto”, “VinFast” or “the Company”) is a company incorporated in Singapore. The principal activities of the Company and its subsidiaries (hereinafter collectively referred to as the “Group”) are to manufacture cars, motor vehicles, render leasing activities and related businesses. The Company’s head office is located at 61 Robinson Road #06-01 (Suite 608), 61 Robinson, Singapore 068893. Head office of VinFast Trading and Production JSC (“VinFast Vietnam”), a subsidiary of the Company, is located at Dinh Vu — Cat Hai Economic Zone, Cat Hai Island, Cat Hai town, Cat Hai district, Hai Phong city, Vietnam. The Group consists of the following entities as of the reporting dates: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31, 2023 | ​ | As of December 31, 2024 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Voting | ​ | Equity | ​ | Voting | ​ | Equity | ​ | Registered office’s | ​ | ​
No. |  | Name |  | Short name |  | right (%) |  | interest (%) |  | right (%) |  | interest (%) |  | address |  | Principal activities
1 |  | VinFast Auto Ltd. |  | VinFast Auto |  | — |  | — |  | — |  | — |  | 61 Robinson Road #06-01 |  | Investment holding
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (Suite 608), 61 Robinson, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Singapore 068893 | ​ | ​
2 |  | VinFast Trading and Production JSC |  | VinFast Vietnam |  | 99.9 |  | 99.9 |  | 99.9 |  | 99.9 |  | Dinh Vu – Cat Hai |  | Manufacturing cars,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Economic Zone, Cat Hai | ​ | motor vehicles, render
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Island, Cat Hai Town, Cat | ​ | leasing activities and
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Hai District, Hai | ​ | related businesses
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Phong City, Vietnam | ​ | ​
3 |  | VinFast Commercial and Services Trading LLC |  | VinFast Trading |  | 99.5 |  | 98.7 |  | 99.5 |  | 99.4 |  | No. 7, Bang Lang 1 |  | Vehicles retail and
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Street, Vinhomes | ​ | distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Riverside Eco-Urban | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Area, Viet Hung Ward, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Long Bien District, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Hanoi, Vietnam | ​ | ​
4 |  | VinFast Germany GmbH |  | VinFast Germany |  | 100.0 |  | 99.9 |  | 100.0 |  | 99.9 |  | Kornmarktarkaden, |  | Trading, importing and
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Bethmannstraße | ​ | exporting equipment,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 8/Berliner Straße 51 – | ​ | components and spare
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 60311 Frankfurt am | ​ | parts for automobiles,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Main, Germany | ​ | e-scooters and related goods
5 |  | VinFast Engineering Australia Pty Ltd (*) |  | VinFast Australia |  | 100.0 |  | 99.9 |  | 100.0 |  | 99.9 |  | 234 Balaclava Road, |  | Automobile designing,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Caulfield North, VIC | ​ | collaborating in
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3161, Australia | ​ | technological research,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | importing and distributing goods
6 | ​ | Vingroup Investment | ​ | Vingroup Investment | ​ | 99.3 | ​ | 99.2 | ​ | 99.3 | ​ | 99.2 | ​ | No. 7, Bang Lang 1 | ​ | Consultancy and
​ | ​ | Vietnam JSC | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Street, Vinhomes | ​ | investment activities
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Riverside Eco-Urban | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Area, Viet Hung Ward, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Long Bien District, Hanoi, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Vietnam | ​ | ​
7 | ​ | Vingroup USA, LLC | ​ | Vingroup USA | ​ | 100.0 | ​ | 100.0 | ​ | 100.0 | ​ | 100.0 | ​ | 333 W. San Carlos St., | ​ | Importing and
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Suite 600, San Jose, | ​ | distributing electronic and
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | CA 95110, USA | ​ | telecommunication
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | equipment
8 |  | VinFast USA Distribution, LLC |  | VinFast USA Distribution |  | 100.0 |  | 100.0 |  | 100.0 |  | 100.0 |  | 12777 West Jefferson Blvd, |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Suite A-101, Los Angeles, | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | CA 90066, USA | ​ | ​
9 |  | VinFast Auto, LLC |  | VinFast Auto, LLC |  | 100.0 |  | 100.0 |  | 100.0 |  | 100.0 |  | 790 N. San Mateo Drive, |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | San Mateo, CA 94401, | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | USA | ​ | ​
10 |  | VinFast Auto Canada Inc. |  | VinFast Auto Canada |  | 100.0 |  | 99.2 |  | 100.0 |  | 99.2 |  | Suite 2600, Three |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Bentall Centre 595 | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Burrard Street, P.O. Box | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 49314, Vancouver Bc | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | V7X 1L3, Canada | ​ | ​
11 |  | VinFast France |  | VinFast France |  | 100.0 |  | 99.2 |  | 100.0 |  | 99.2 |  | 72 rue du Faubourg Saint |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Honoré, Paris, 75008 | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | France | ​ | ​
12 |  | VinFast Netherlands B.V |  | VinFast Netherlands |  | 100.0 |  | 99.2 |  | 100.0 |  | 99.2 |  | Vijzelstraat 68, 1017HL |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Amsterdam, Netherlands | ​ | vehicles
13 |  | VinFast Manufacturing US, LLC (***) |  | VinFast Manufacturing |  | 100.0 |  | 100.0 |  | 100.0 |  | 100.0 |  | 160 Mine Lake Court, |  | Vehicles manufacturing.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Ste 200, Raleigh, North | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Carolina 27615, USA | ​ | ​
14 |  | PT VinFast Automobile Indonesia (***) |  | VinFast Indo |  | 99.9 |  | 99.9 |  | 100.0 |  | 99.6 |  | Axa Tower, 45th Floor, |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | JL. Prof. Dr. Satrio Kav | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 18., Karet Kuningan | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Village/Subdistrict, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | District. Setiabudi, City Adm. | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Jakarta South, DKI Jakarta Province. | ​ | ​
​ 1.ORGANIZATION AND NATURE OF OPERATIONS(continued) (a)The Corporate information (continued) The Group consists of the following entities as of the reporting dates (continued): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31, 2023 | ​ | As of December 31, 2024 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Voting | ​ | Equity | ​ | Voting | ​ | Equity | ​ | Registered office’s | ​ | ​
No. |  | Name |  | Short name |  | right (%) |  | interest (%) |  | right (%) |  | interest (%) |  | address |  | Principal activities
15 |  | PT VinFast Trading Indonesia |  | VinFast Trading |  | — |  | — |  | 99.0 |  | 98.6 |  | Axa Tower, 45th Floor, |  | Distribution of automotive
​ | ​ | ​ | ​ | Indo | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | JL. Prof. Dr. Satrio Kav | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 18., Karet Kuningan | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Village/Subdistrict, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | District. Setiabudi, City Adm. | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Jakarta South, DKI Jakarta | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Province. | ​ | ​
16 |  | VinFast Auto (Thailand) Co., Ltd. (*) |  | VinFast Thailand |  | 99.9 |  | 99.9 |  | 99.9 |  | 99.9 |  | Bangkok, Thailand |  | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | vehicles
17 | ​ | VinFast India Ltd. (***) | ​ | VinFast India | ​ | 99.9 | ​ | 99.9 | ​ | 99.9 | ​ | 99.9 | ​ | Flat No.164, Ground Floor, | ​ | Vehicles manufacturing and
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Suryodaya Apartment, | ​ | related businesses.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Pocket-8, Sector 12, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Dwarka, New Delhi-110078, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | India | ​ | ​
18 | ​ | VinFast UK Ltd. (*) | ​ | VinFast UK | ​ | 100.0 | ​ | 100.0 | ​ | 100.0 | ​ | 100.0 | ​ | 21 Holborn Viaduct, | ​ | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | London, United Kingdom, | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | EC1A 2DY | ​ | ​
19 | ​ | VinFast Middle East Ltd. | ​ | VinFast Middle East | ​ | 100.0 | ​ | 100.0 | ​ | 100.0 | ​ | 100.0 | ​ | Jebel Ali Free Zone, | ​ | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Dubai, UAE | ​ | vehicles
20 |  | SpecCo Ltd |  | SpecCo |  | 100.0 |  | 100.0 |  | — |  | — |  | Appleby Global Services |  | Merging and acquisition
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (Cayman) Limited, 71 | ​ | activities
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fort Street, PO Box 500, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Grand Cayman, Cayman | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Islands, KY1-1106 | ​ | ​
21 | ​ | VinFast Investment and | ​ | VinFast Invesment and | ​ | — | ​ | — | ​ | 99.9 | ​ | 99.9 | ​ | Dinh Vu – Cat Hai Economic | ​ | Supporting and investing in
​ | ​ | Development JSC | ​ | Development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Zone, Cat Hai Island, Cat Hai | ​ | newly established companies
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Town, Cat Hai District, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Hai Phong City, Vietnam | ​ | ​
22 | ​ | VinEG Green Energy Solutions JSC | ​ | VinEG | ​ | 99.8 | ​ | 99.7 | ​ | 99.8 | ​ | 99.7 | ​ | Dinh Vu – Cat Hai Economic | ​ | Manufacturing batteries
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Zone, Cat Hai Island, Cat Hai | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Town, Cat Hai District, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Hai Phong City, Vietnam | ​ | ​
23 | ​ | VinES Ha Tinh Energy Solution JSC | ​ | VinES Ha Tinh | ​ | 99.8 | ​ | 99.5 | ​ | 99.8 | ​ | 99.5 | ​ | Vung Anh Economic Zone, | ​ | Manufacturing batteries
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Ky Loi Commune, Ky Anh | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Town, Ha Tinh Province, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Vietnam | ​ | ​
24 | ​ | VinES USA, LLC (**) | ​ | VinES USA | ​ | 100.0 | ​ | 99.7 | ​ | 100.0 | ​ | 99.7 | ​ | 850 New Burton Road, | ​ | Sale and leasing of batteries
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Suite 201, Dover, Delaware | ​ | and other related services
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 19904, County of Kent | ​ | ​
25 | ​ | VinFast Kazakhstan Ltd. (*) | ​ | VinFast Kazakhstan | ​ | — | ​ | — | ​ | 100.0 | ​ | 100.0 | ​ | 10 Yelebekov Street, Medeu | ​ | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | District, Almaty City, | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Kazakhstan | ​ | ​
26 | ​ | VinFast Auto Nigeria Ltd. (**) | ​ | VinFast Nigeria | ​ | — | ​ | — | ​ | 100.0 | ​ | 100.0 | ​ | 01, 2nd Floor, Block B, Post | ​ | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Square Building, 1/3 Ologun | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Agbaje Street, Victoria Island, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Lagos State, Nigeria | ​ | ​
27 | ​ | VinFast Auto Philippines Corp. | ​ | VinFast Philippines | ​ | — | ​ | — | ​ | 99.9 | ​ | 99.9 | ​ | 907 Trade and Financial Tower, | ​ | Distribution of automotive
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 7th Avenue Corner 32nd Street, | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Bonifacio Global City, Taguig | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | City Fort Bonifacio, Taguig City, | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fourth District, National Capital | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Region (NCR), 1630 | ​ | ​
28 | ​ | VinFast Auto México, | ​ | VinFast Mexico | ​ | — | ​ | — | ​ | 99.9 | ​ | 99.9 | ​ | Street: Bosque de Ciruelos| Ext | ​ | Distribution of automotive
​ | ​ | S. DE R.L. DE C.V. (*) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Number: 180| Int Number: PP101| | ​ | vehicles
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Suburb: Bosque de las Lomas| | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | County: Miguel Hidalgo| State: | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Mexico City| Zip Code: 11700 | ​ | ​
(*) | As at the reporting date, these entities’ operation are at idle stage.
(**) | As at the reporting date, these entities are in the process of completing the business dissolution procedures for this subsidiary.
(***) | As at the reporting date, these entities are at factory construction stage.
​ 1.ORGANIZATION AND NATURE OF OPERATIONS(continued) (b)Reorganization under common control In January 2024, the share of VinES Energy Solutions Joint Stock Company (“VinES JSC”) were contributed to the Group, an entity under common control. The reorganization was accounted for in a manner similar to the pooling-of-interest. Under such method, the consolidated financial statements of the Group have been retrospectively adjusted to include the historical balances and results of operations of VinES at their carrying amounts at the beginning of the earliest period presented (See Note 3). ​ (c)VIE structures V-Green operates in constructing charging stations and providing charging services for EV customers. In 2024, VinFast entered agreements with V-Green that exposes VinFast to variable interests in V-Green:
i. |  | Lease Agreement: VinFast’s maximum exposure to loss as a result of our involvement with V-Green related to the lease income (Note 2(m)).
​
ii. |  | Fee Arrangements: In 2024, VinFast launched the Free Charging Program as disclosed in (Note 2 (n)). The free charging paid directly to V-Green that exposes VinFast to the risk of loss in V-Green constitutes variable interests held by the Group. The carrying amount of free charging subsidy liability as of December 31, 2024 is presented in Note 16. The Group’s maximum exposure to the risk of loss as a result of this program is varied by the number of EV customers who will be sold since 1 January 2025 and are entitled to receive a subsidy from VinFast and other factors in the future.
​ The Group lacks the power through voting or similar rights to direct the activities of this entity that most significantly affect its economic performance, so the Group is not the primary beneficiary of V - Green and does not consolidate V - Green. (d)Funding Risks and Going Concern In accordance with the ASC 205-40, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. The Company has incurred losses since inception, incurred a net loss after tax of VND77,355 billion for the year ended 31 December 2024. In addition, as of that date, the Company and its subsidiaries’ accumulated losses amounted to VND267,792 billion, the Company and its subsidiaries’ current liabilities also exceeded its current assets by VND106,727 billion and cash flows from operating activities were negative with the amount of VND30,468 billion for the year ended 31 December 2024. The Company prepares business plans over the next 12 months, which includes business expansion and revenue from new geographies for revenue growth and achieving gross margin improvements to minimize net cash outflows. ​ 1.ORGANIZATION AND NATURE OF OPERATIONS(continued) (c)Funding Risks and Going Concern (continued) As an early-stage growth company, the Company’s ability to access capital is critical. As of December 31, 2024, the Company’s principal sources of liquidity are its consolidated balance of cash and cash equivalent with amount of VND3,306.8 billion, and its access to capital, which includes: ​
| (i) | Financial support from Vingroup JSC, its ultimate parent, which shall be legally valid for the period of 12 months from the issuance date of the consolidated financial statements, which is subjected to Vingroup JSC’s financial capability, and additional debt financing, which is subjected to lenders’ approval.
| (ii) | On October 20, 2023, the Company entered into a three-year Standby Equity Subscription Agreement (the “SESA”) with Yorkville. Under terms of the SESA, the Company may, at its option, issue and sell from time to time up to $1 billion of ordinary shares to Yorkville, subject to certain limitations, such as the market price of the Company’s ordinary stock, the availability of sufficient authorized ordinary shares, and Yorkville’s financial capability to subscribe for such number of ordinary shares.
| (iii) | On November 12, 2024, the Company entered into the Grant Agreement with Mr. Pham, Vietnam Investment Group Joint Stock Company (“VIG”) and Asian Star Trading & Investment PTE.LTD. (“Asian Star”), in which, Mr. Pham, directly or indirectly through VIG, Asian Star or other companies majority-owned or controlled by Mr. Pham, shall use legitimate sources, including but not limited to proceeds from the sale of the Company’s shares, to give the grants to the Company. The ability to access the grants is dependent on the market price of the Company’s ordinary stock and the availability of sufficient authorized ordinary shares.
The Company’s principal sources of liquidity and its access to capital cannot be assured due to uncertainties as discussed above, and as a result cannot be included as sources of liquidity for ASC 205-40 analysis. If capital is not available to the Company when, and in the amounts needed, the Company would be required to delay, scale back, or abandon some or all of its development programs and operations. These conditions and events raise substantial doubt about the Company’s ability to continue as a going concern through the next twelve months from the date of issuance of these consolidated financial statements. The Company and its subsidiaries’ consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480424/946-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480424/946-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205/tableOfContent + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration