On the Record · VinFast Auto
VinFast Auto acquisitions, on the record
The businesses VinFast Auto bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
VinES Energy Solution Joint Stock Company (VinES)Word for word“In addition, we acquired our affiliate, VinES Energy Solution Joint Stock Company (“VinES”), a Vietnam-based EV battery company, from Mr. Pham in January 2024.” 20-F for 2023 | acquisition | January 2024 | — |
Black Spade Acquisition Co (renamed SpecCo Ltd)Word for word“The Business Combination was consummated on August 14, 2023.” 20-F for 2023 | acquisition | The Business Combination was consummated on August 14, 2023. | — |
Black Spade Acquisition CoWord for word“On May 12, 2023, we entered into a Business Combination Agreement with Black Spade and Merger Sub, pursuant to which, among other transactions, on the terms and subject to the conditions set forth therein, Merger Sub merged with and into Black Spade (“Merger”), with Black Spade as the surviving entity and renamed as SpecCo Ltd. and a wholly-owned subsidiary of VinFast after the Merger.” 20-F for 2023 | agreed acquisition | May 12, 2023 | — |
ICE Assets (ICE vehicle manufacturing business) sold to VIGWord for word“The consideration for the ICE Assets was VND28,999.0 billion, inclusive of taxes, which was the amount agreed among the parties with reference to the estimated book value of the ICE Assets under Vietnamese accounting standards.” 20-F for 2023 | divestiture | — | VND28,999.0 billion |
VinES Energy Solutions Joint Stock Company (VinES)Word for word“In January 2024, we acquired our affiliate, VinES Energy Solutions Joint Stock Company (“VinES”), a Vietnam-based EV battery company, from Mr. Pham Nhat Vuong (“Mr. Pham”).” 20-F for 2024 | acquisition | January 2024 | — |
VinES core business operations and assets (spin-off to VinEG Green Energy Solutions JSC)Word for word“In May 2024, we completed a spin-off of VinES’ core business operations and assets relating to battery pack assembly and battery cell manufacturing to a new subsidiary, VinEG Green Energy Solutions JSC (“VinEG”).” 20-F for 2024 | divestiture | In May 2024 | — |
ICE Assets to VIGWord for word“The consideration for the ICE Assets was VND28,999.0 billion, inclusive of taxes, which was the amount agreed among the parties with reference to the estimated book value of the ICE Assets under Vietnamese accounting standards.” 20-F for 2024 | divestiture | — | VND28,999.0 billion |
smart home devices business from VinSmartWord for word“In connection with our acquisition of the smart home devices business from VinSmart, on December 10, 2022, February 23, 2023 and March 27, 2023, one of our subsidiaries entered into sales agreements with Vinhomes, pursuant to which we undertook to sell smart home devices to Vinhomes and its subsidiary for a total consideration of VND118.7 billion.” 20-F for 2024 | acquisition | — | — |
Black Spade Acquisition CoWord for word“The Business Combination was consummated on August 14, 2023.” 20-F for 2025 | merger | August 14, 2023 | — |
ICE AssetsWord for word“Our payment obligations related to the assigned Share Acquisition P-Notes were subsequently eliminated when we completed the ICE Assets Disposal in early November 2022 at a net gain of VND13,604.2 billion, which was recognized as a deemed contribution arising from the ICE Assets Disposal.” 20-F for 2025 | divestiture | early November 2022 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) |
|---|---|
| 2023-12-31 | $289,114 |
| 2024-12-31 | $421,286 |
Read from VinFast Auto’s annual reports (20-F for 2025, 20-F for 2024, 20-F for 2023) and the financial data it files with the SEC, as of 2026-04-30. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.