Ngoc Hoi
2026
Why
Real estate company acquired to support EV infrastructure.
VinFast
Electric VehiclesFounded 2017- HQ today: Haiphong, Vietnam
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
VinFast Acquisitions
6
Major Deals Covered
What are VinFast's biggest acquisitions?
This page covers 6 major deals from 2018 to 2026, each with its price where disclosed and the reason behind it.
- Major deals covered
- 6
- First deal
- 2018
- Most recent
- 2026
| Company | Year | Price | Purpose |
|---|---|---|---|
| General Motors Vietnam | 2018 | Undisclosed | Took over GM's Vietnamese business, including its Hanoi assembly plant and Chevrolet distribution in Vietnam. Terms were not disclosed. |
| Lang Lang Proving Ground (Australia) | 2020 | Undisclosed | Bought GM Holden's vehicle testing ground in Victoria, Australia. Terms were not disclosed. |
| Ngoc Hoi | 2026 | Undisclosed | Real estate company acquired to support EV infrastructure. |
| Future Investment Research and Development JSC | 2026 | Undisclosed | Merge to consolidate assets and manufacturing. |
| VinES Energy Solutions | 2023 | Undisclosed | Consolidate battery tech and optimize supply chain. |
| Black Spade Acquisition Co. | 2023 | Undisclosed | SPAC to facilitate public listing on Nasdaq. |
- What companies has VinFast bought?
- Major acquisitions by VinFast documented here include Ngoc Hoi (2026), Future Investment Research and Development JSC (2026), VinES Energy Solutions (2023), Black Spade Acquisition Co. (2023) and Lang Lang Proving Ground (Australia) (2020).
- What is VinFast's most recent acquisition?
- The most recent VinFast acquisition documented here is Ngoc Hoi, in 2026.
Future Investment Research and Development JSC
2026
Why
Merge to consolidate assets and manufacturing.
VinES Energy Solutions
2023
Why
Consolidate battery tech and optimize supply chain.
Black Spade Acquisition Co.
2023
Why
SPAC to facilitate public listing on Nasdaq.
Lang Lang Proving Ground (Australia)
2020
Why
Bought GM Holden's vehicle testing ground in Victoria, Australia. Terms were not disclosed.
Impact
Gave VinFast its own track for vehicle testing.
Outcome
Used for development testing of VinFast models.
General Motors Vietnam
2018
Why
Took over GM's Vietnamese business, including its Hanoi assembly plant and Chevrolet distribution in Vietnam. Terms were not disclosed.
Impact
Gave VinFast a dealer network and a GM small-car platform used for the Fadil.
Outcome
The Fadil became one of Vietnam's best-selling small cars before VinFast dropped petrol models in 2022.
VinFast's Growth & Acquisition Strategy
VinFast's strategy has shifted from a fast global launch to an Asia-first plan. It opened a second Vietnamese plant in Ha Tinh and assembly plants in Thoothukudi, Tamil Nadu (India) and Subang (Indonesia) in 2025, focused its lineup on small, cheaper models and fleet vehicles, and moved overseas retail toward franchised dealers. Construction of the North Carolina plant was paused in 2024 with production pushed to 2028.
How VinFast Makes Money
VinFast earns most of its money by building and selling electric cars, from the VF 3 mini car through the VF 5, VF 6, VF 7, VF 8 and the three-row VF 9, plus fleet versions sold under the Green brand. A large share of volume goes to fleet buyers, including Xanh SM, the electric taxi and ride-hailing operator controlled by founder Pham Nhat Vuong. It also sells electric scooters and e-bikes (406,498 units in 2025), spare parts and after-sales service. Cars are sold through company showrooms and franchised dealers, with 424 showrooms worldwide at the end of 2025.
VinFast Acquisitions FAQ
What was VinFast's landmark acquisition of General Motors Vietnam operations in 2018?
In 2018, VinFast acquired 100% of General Motors' manufacturing operations in Hanoi, becoming the exclusive distributor of Chevrolet vehicles in Vietnam and transferring GM's local assembly plant to VinFast.
What was the strategic licensing agreement with BMW for early vehicles?
VinFast licensed powertrain, chassis, and electronic architecture intellectual property from BMW for the 5 Series sedan and X5 SUV, allowing VinFast to launch the Lux A2.0 and Lux SA2.0 in record time.
How did VinFast partner with Italian design legend Pininfarina?
Pininfarina designed the exterior and interior styling for VinFast's initial Lux combustion models, as well as the contemporary VF 8 and VF 9 electric SUVs, giving VinFast distinctive European aesthetic styling.
What was the engineering collaboration with Magna Steyr and AVL?
Magna Steyr and Austrian powertrain firm AVL provided end-to-end vehicle engineering, safety testing, and crash-simulation validation for VinFast's initial vehicle architectures.
What was the battery cell joint venture with Gotion High-Tech?
In 2022, VinFast partnered with Chinese battery giant Gotion High-Tech to construct an LFP (lithium iron phosphate) battery cell gigafactory in Ha Tinh, Vietnam, securing domestic battery supply.
What was VinFast's investment in extreme fast-charging developer StoreDot?
In January 2022, VinFast led a $80 million Series D funding round in Israeli battery startup StoreDot to access ultra-fast-charging extreme battery chemistry capable of 5-minute charge times.
What is the strategic skateboard chassis collaboration with CATL?
In October 2022, VinFast signed a global memorandum with CATL to explore CIIC (CATL Integrated Intelligent Chassis) skateboard technology, integrating batteries and motors into a modular rolling chassis.
How did the SPAC merger with Black Spade Acquisition Co work in 2023?
In August 2023, VinFast merged with Black Spade Acquisition Co (a special purpose acquisition company sponsored by Black Spade Capital) to list on NASDAQ, providing public currency and global visibility.
What industrial investment agreements did VinFast secure in Tamil Nadu, India?
In early 2024, VinFast committed $500 million (up to $2 billion total) to build an integrated electric vehicle and battery assembly facility in Thoothukudi, Tamil Nadu, receiving substantial state industrial subsidies.
What was the investment in the Subang assembly plant in Indonesia?
In July 2024, VinFast broke ground on a $200 million assembly plant in Subang, West Java, Indonesia, designed to manufacture right-hand-drive VF 3, VF 5, VF 6, and VF 7 models for regional ASEAN markets.
Why does VinFast rely on strategic licensing rather than multi-billion-dollar corporate takeovers?
Licensing proven tier-one technology allows VinFast to bypass decades of trial-and-error R&D at a fraction of the cost, conserving capital for factory construction and marketing.
What is VinFast's forward alliance strategy for software and autonomous driving?
VinFast collaborates with NVIDIA for autonomous driving hardware (DRIVE Orin) and Google for Android Automotive OS infotainment, ensuring cutting-edge smart cabin technology.
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