VinFast said Vingroup had issued support letters to the effect that “Vingroup has the ability and will continue to provide financial support sufficient to meet our needs for continued operation.” The document also said that VinFast will “require significant additional capital,” expected to come via debt and equity financing and related-party financing.”
According to another report, the Vietnamese car maker lost $1.3 billion in 2021 and close to $1.5 billion in by the end of September 2022, prompting lay-offs in the US. VinFast officials didn’t deny the reported losses, but clarified that figures reported in December to the SEC meant investments were made and money was being used, thus the company expects to continue to incur operating and net losses as it progresses.