HÀ NỘI — VinFast Auto Ltd. has fully withdrawn its investment from VinFast Trading and Production JSC (VFTP), the entity responsible for automobile manufacturing in Việt Nam, following a restructuring that leaves the company entirely owned by domestic private investors.

According to data from the Hải Phòng Business Registration Office, VFTP's foreign capital has fallen to zero, while domestic private capital now accounts for 100 per cent of its charter capital of more than VNĐ85.6 trillion (US$3.3 billion).

Before the ownership change, VFTP had more than VNĐ8.88 trillion in foreign capital, equivalent to nearly 10.4 per cent of its charter capital. Domestic private investors held more than VNĐ76.7 trillion, or 89.6 per cent.

The foreign capital was held by VinFast Auto Ltd., an entity incorporated in Singapore and listed on Nasdaq.

Under the latest ownership structure, VFTP's entire charter capital of more than VNĐ85.61 trillion is classified as domestic private capital, marking VinFast Auto's full withdrawal from the manufacturing entity.

Automobile and other motor vehicle manufacturing remains VFTP's principal business following the ownership change.

Its registered activities also include the manufacture of vehicle bodies, automotive components, engines, batteries and accumulators, alongside other related operations.

The withdrawal is part of a broader corporate restructuring previously announced by VinFast, which separates the group's manufacturing operations in Việt Nam from several other functions.

Before VinFast Auto divested its interest in VFTP, part of the company's assets and operations were separated to establish VinFast Vietnam JSC (VFVN).

According to information disclosed by the company, VFVN has charter capital of more than VNĐ5.18 trillion. Following the separation, VFTP's charter capital was reduced to more than VNĐ85.61 trillion.

The two entities assume different functions under the restructured corporate model.

VFVN has taken over VinFast's global research and development activities, intellectual property rights, business and sales operations, as well as after-sales services. It also holds stakes in several companies within VinFast's overseas operations.

On the other hand, VFTP continues to hold assets associated with manufacturing activities in Việt Nam as well as certain related financial obligations.

Meanwhile, Vietnamese electric taxi operator Green and Smart Mobility JSC (GSM), a VinFast partner, plans to expand into the US and Europe ahead of a targeted initial public offering in Hong Kong (China) in 2028, according to Reuters.

GSM, which exclusively uses VinFast electric vehicles, has expanded its ambitions overseas after rapidly gaining market share in Việt Nam following its launch in 2023.

Its international expansion plans also come as VinFast seeks to increase overseas sales of its electric vehicles following unsuccessful attempts to expand into the European and US markets. — BIZHUB/VNS