It is negotiating with potential investors to raise billions of dollars to finance the project.

Mr. Pham Nhat Vuong and his wife - Ms. Pham Thu Huong.

In November 2021, Ms. Le Thi Thu Thuy, Vice President of Vingroup, talked about this project. A representative of Vingroup said that VinFast planned to list in the US in the next one or two years. Foreign valuation firms estimate the company's value at between $25 billion and $60 billion.

According to Forbes, as of March 17, 2022, Pham Nhat Vuong had a fortune of $6.1 billion.

However, if VinFast has a successful IPO in the US with a valuation of $60 billion as expected, Mr. Vuong will have an additional $26 billion. Thus, Vuong's total assets will be $32 billion, placing him in the top 40 richest people on the planet according to the Forbes list.

Ms. Pham Thu Huong, Mr. Vuong's wife, will also have an additional $600 million, bringing her total assets to about $1.2 billion, becoming the second female billionaire in Vietnam and Southeast Asia, just behind Ms. Nguyen Thi Phuong Thao (CEO of VietJet, with $3.2 billion).

In early August 2021, Mr. Vuong contributed 48.5% of capital, equivalent to VND485 billion (together with Vingroup’s 51%) to VINES Energy Solutions Joint Stock Company (VinES), a battery manufacturing business in the context that VinFast aims to become a global smart electric car company.

VinFast plans to enter the US and European markets with a line of electric cars with battery rental models to compete with major domestic manufacturers such as Tesla and General Motors (GM), with an annual sales plan of 160,000 to 180,000 cars in the US, equivalent to 1% of total car sales in this country.

V. Ha

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