Abstract:
In the context of aggressively exploring overseas markets and continuing to expand losses, Pham Nhat Quan Anh, chairman of VinFast Automobile Co., Ltd., will serve as the global CEO of the Vietnamese electric car manufacturer, succeeding his father Pham Nhat Vang, the billionaire founder.
The parent company Vingroup issued an announcement stating that Pham Nhat Quan An became the chairman of VinFast in May and will now fully take over the global operations of the car company while continuing to serve as the chairman and CEO of the local business segment in Vietnam.
This personnel change comes as the company seeks to expand its business in Asia, Europe, the Middle East and North America. VinFast’s net loss in the first quarter was VND28.1 trillion (equivalent to US$1.1 billion), a year-on-year increase of 58.9%. The company is facing fierce market competition.
Fan Riquan'an graduated from Singapore Management University and served as a senior executive in many companies under VinFast and Vingroup Group. From VinFast's early expansion in Vietnam to its entry into overseas markets, he has been involved in the company's development throughout the entire process. He will also continue to serve as CEO of VinMetal, a steel company owned by Vingroup.
Fan Riwang also promoted another son to serve as global CEO of Green & Smart Mobility Co., Ltd. (GSM), an electric ride-hailing company. Pham Nhat Ming Huang takes over the position of Nguyen Kok Chun; Nguyen Kwok Chun is transferred to the global chairman position to replace Pham Nhat Wang's wife Fan Qiuxiang.
Both companies hope to accelerate overseas business growth, so they launched this round of management reorganization.
VinFast said it currently sells electric vehicles in 16 countries and has four factories in Vietnam, Indonesia and India to produce cars and electric motorcycles.
GSM now operates in 7 countries, is evaluating plans to enter the US market at the end of 2026, and is preparing for an IPO in Hong Kong.
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