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Jun 07, 2024 - 21:05
By asia.nikkei.com

Vingroup guards red-ink EV unit VinFast by selling off retail cash cow

HANOI -- Vietnamese conglomerate Vingroup is selling off main businesses and planning stock market listings in a scramble to raise funds for its loss-making VinFast EV business, raising concerns about the group's future cash flow.

Vingroup is moving forward with plans to sell Vincom Retail, which operates large commercial facilities in over 80 locations across Vietnam, many of which are located in prime locations on busy thoroughfares.