VinFast Seeks to Shed Most Debt With Vietnam Factory Spinoffs As the electric vehicle market continues to experience growing pains, struggling manufacturers are exploring unconventional solutions to stay afloat.
One such case is Vietnamese conglomerate Vingroup's subsidiary, VinFast, which has been grappling with significant debt and financial woes.
To alleviate its burden, VinFast plans to spin off its Vietnam factory into separate entities. VinFast's financial situation is precarious, with debt levels reportedly exceeding $10 billion.