Pham Nhat Minh Hoang, the second son of dollar billionaire Pham Nhat Vuong, has become CEO of a company specializing in trading and leasing electric vehicles (EVs) with charter capital of VND200 billion.

Vingroup has provided a guarantee and pledged assets belonging to the group to secure corporate bonds issued by VinFast, the automotive manufacturer, in 2024, with a total value not exceeding 6.5 trillion VND ($263 million).

While electric vehicles (EVs) are developing at lightning speed in the world market, they remain unfamiliar to most Vietnamese.

Vingroup, under the leadership of billionaire Pham Nhat Vuong, has provided significant financial support to electric car manufacturer VinFast, contributing to its substantial revenue growth and ambitious global expansion plans.

The Vietnamese market is witnessing a surge of Chinese electric cars since 2023, with five brands entering in just the past 12 months, covering all segments from mini cars to SUVs and MPVs.

Billionaire Pham Nhat Vuong has pledged to support VinFast "until the money runs out" while maintaining a stress-free lifestyle, sleeping eight hours a day.

Besides VinFast's electric cars, foreign electric vehicle manufacturers have recently announced plans to introduce multiple models in Vietnam, with various price ranges.

Electric vehicle maker VinFast has become the only representative from Vietnam to be listed in the "TIME 100 most influential companies 2024”, alongside Google, Microsoft, and Amazon.

VinFast share prices have increased to over $5 per share on Nasdaq following news about record-high orders for its electric VF3 vehicle.

Pham Nhat Vuong, Chairman of Vingroup and founder of Vietnamese electric vehicle maker VinFast, on March 18 announced the establishment of V-Green Global Charging Station Development Company (V-Green).

VinFast has reported impressive business results for 2023.

Vietnam is experiencing a strong shift towards electric vehicles (EVs).

Vietnamese billionaire Pham Nhat Vuong, founder and chairman of Vingroup JSC – VinFast parent company - has just assumed his new role as Chief Executive Officer of VinFast, the leading electric vehicle manufacturer in Vietnam.

Pham Nhat Quan Anh, the son of the Vietnamese first dollar billionaire recognized by Forbes, is deputy CEO of VinFast, a subsidiary of Vingroup specializing in manufacturing electric vehicles (EV).

The news about a possible investigation targeting VinFast, a well-known Vietnamese automobile manufacturer, has caused its share prices to fall in the US stock market.

Vietnam's first electric vehicle (EV) maker VinFast plans to build a plant with an investment capital of 18.6 trillion Rp (1.2 billion USD) in Indonesia, according to Presidential Chief of Staff of Indonesia Moeldoko.

VinFast Auto, the leading electric vehicle maker of Vietnam that has listed its share on Nasdaq, has reached a US$1 billion share sale deal with Yorkville Advisors Global, in an effort to raise funds for its global operation expansion.

Just several months after the announcement of non-refundable aid of $1 billion to VinFast from his private assets, Pham Nhat Vuong has announced his donation of a battery company to the automobile manufacturer.

VinFast’s share prices have been stable at $17-18 per share over the last few trading sessions. The capitalization value of the Vietnamese electric-vehicle manufacturer is still higher than that of the Chinese Li Auto.