Vingroup chairman injects $687 mln into EV maker VinFast in Q2

Billionaire Pham Nhat Vuong, chairman of Vietnamese conglomerate Vingroup, poured VND18 trillion ($686.5 million) into the group’s EV subsidiary VinFast in the second quarter of 2025, raising the total in the first half to VND23 trillion.

From Q4/2024 to end-Q2/2025, Vuong had disbursed VND28 trillion ($1.07 billion) out of his VND50 trillion ($1.9 billion) personal funding commitment to VinFast, according to Vingroup’s newly-released Q2/2025 consolidated financial statement.

In 2023 and 2024, the billionaire had funded VinFast with VND18.98 trillion ($723.9 million) and VND8.28 trillion, respectively. By June 30, 2025, his total contribution had reached VND50.26 trillion, even exceeding the committed level.

Vuong first announced his intention to personally invest $1 billion into VinFast in April 2023. Within a year, that entire sum had been disbursed. At Vingroup’s 2024 AGM, he confirmed he would arrange at least another $1 billion in personal assets to further support the EV maker.

On November 12, 2024, Vingroup and Vuong officially announced a financial support plan for VinFast. Under the agreement, Vingroup will provide up to VND35 trillion ($1.33 billion) in new loans through 2026, while Vuong personally committed an additional VND50 trillion in funding.

As VinFast’s CEO and major shareholder, Vuong has clarified that the funds are drawn entirely from his personal assets and do not impact the interests of Vingroup or VinFast shareholders.

Vingroup JSC, listed on the Ho Chi Minh Stock Exchange (HoSE) as VIC, reported a consolidated net profit of VND4,509 billion ($172.2 million) in the first half of 2025, up 120% year-on-year, driven by strong performance in real estate and electric vehicle segments.

Consolidated net revenue surged to VND130.37 trillion ($4.98 billion) in the six-month period, more than doubling from the same period last year, according to its Q2 financial statement.

In Q2, the firm recorded a net profit of VND2.27 trillion ($86.49 million) on revenue of VND46.3 trillion ($1.77 billion), up 31% and 9% year-on-year, respectively.

VinFast, with 394 showrooms globally, delivered 72,167 units in H1, up 3.2 times from a year earlier. In Vietnam, the company retained its leading market position with 67,569 units sold, or 93.6% of its global sales.

The VF 3, VF 5, and VF 6 were among the top-selling models domestically. VinFast also posted a new record in its two-wheeler segment, delivering 114,484 electric scooters, a 5.5-fold increase year-on-year.

In the stock market, VIC closed Friday at VND104,000 ($3.97) per share.