Will Debut In Indonesia, VinFast Reshuffles Its Management Ranks

VinFast VF5. (Doc. VinFast Auto)

VinFast, a Vietnamese electric vehicle manufacturer, is taking strategic steps for a wider global expansion by announcing the change of management, where Pham Nhat Vuong was appointed Chief Executive Officer.

Pham Nhat Vuong, who is also the founder and chairman of Vingroup, VinFast's parent company, is now in charge of overseeing the operation of electric vehicle assembly (EV), including global production, sales, and marketing. This 55-year-old man replaces Le Thi Thu Thuy, who has served since 2021.

Vuong will be VinFast's fourth CEO, after James Deluca, executive former General Motors (GM), and Michael Lohscheller, former top official Opel and Volkswagen, previously in office.

Meanwhile, Thuy will serve as Chairwoman of the Board of Directors of the company. In addition, Nguyen Thi Lan Anh will fill the position of Chief Financial Officer, replacing David Mansfield.

"I firmly believe that VinFast will continue to grow thanks to the leadership and business intelligence owned by Pham, and I look forward to working with him and the entire management team in my new role to guide and support VinFast's continued growth," Thuy said in a company statement, Monday, January 8.

VinFast, founded in 2017, has experienced rapid growth, especially after entering the North American market. It is planned that the company will open its first dealer network in the US. In addition, VinFast will continue to expand its global reach by planning the construction of two factories, one in India and one in Indonesia. The company plans to use its capital expenditure to build production facilities in both regions, with an estimated cost-saving of up to 400 million US dollars.

VinFast has also confirmed his participation in the Indonesia International Auto Show (IIMS) 2024, where the company will introduce models such as VF5 to compete in the affordable electric vehicle segment.