VinFast Seeks to Shed Most Debt With Vietnam Factory Spinoffs

VinFast Auto Ltd. said its planned sale of two Vietnamese factories will enable the electric vehicle maker to shed about 182 trillion dong ($6.9 billion) in debt and obligations while potentially speed its path toward profitability.

“After restructuring, VinFast will essentially be debt-free, with only a small amount remaining,” the company said in an emailed statement responding to Bloomberg’s questions.