Phạm Nhật Vượng, the billionaire chairman of Vingroup, has announced a significant financial boost to his electric vehicle company, VinFast, with an additional funding of 12.5 trillion VND (approximately 525 million USD). This latest contribution increases his total financial support for VinFast to 43.8 trillion VND (around 1.8 billion USD) since the beginning of 2024.

The recent funding is part of a broader commitment made by Vingroup to provide VinFast with new loans totaling up to 35 trillion VND (approximately 1.4 billion USD) between November 12, 2024, and November 12, 2026. These funds are aimed at supporting VinFast's long-term expansion and development plans.

In the first half of 2026, Vingroup reported a consolidated revenue of 222.3 trillion VND, marking a 72.5% increase compared to the same period last year. The growth was primarily driven by the industrial manufacturing and real estate sectors. The company also reported a net profit of 20.375 trillion VND, which is 4.5 times higher than the previous year, achieving 58% of its annual profit target.

VinFast has continued to lead the Vietnamese electric vehicle market, delivering 115,916 vehicles in the first half of 2026, reflecting a 72% increase year-on-year. Globally, the company delivered 128,662 electric cars, representing a 78% increase, while expanding its network to 474 showrooms across key Asian markets.

Furthermore, VinFast has seen substantial growth in its electric motorcycle segment, with nearly 429,175 units delivered in the first half of 2026, a remarkable increase of 3.7 times compared to the same period in 2025. The company has also completed the transfer of its manufacturing operations in Vietnam to a partner, a strategic move aimed at streamlining operations and focusing resources on research and development, technology, brand building, and expanding business activities both domestically and internationally.