VinFast refocuses on Vietnam, appoints Pham Nhat Quan Anh CEO
VinFast said 175,099 EVs in Vietnam (89% of sales) generated about 80.4T VND revenue, and it appointed Pham Nhat Quan Anh as CEO. The company also secured a $200M SACE credit line and pivoted India plans to two local EVs, while Tesla’s Vietnam entry pressured VFS shares.
VinFast Auto Ltd. (NASDAQ:VFS) is sharpening its focus on Vietnam, where 175,099 EVs made up 89% of sales and generated about 80.4T VND of revenue. The company also named 33-year-old Pham Nhat Quan Anh as CEO, secured a $200M SACE credit line and said it is shifting its India strategy to two local EVs. Tesla’s Vietnam entry is weighing on the stock.