VinFast’s founder hands CEO role to son amid expansion push

Pham Nhat Quan Anh, chairman of VinFast Auto Ltd, will take over as global chief executive officer of the Vietnamese electric vehicle maker, replacing his father and billionaire founder Pham Nhat Vuong amid an aggressive international push and growing losses.

Quan Anh was appointed chairman of VinFast in May and will now assume overall responsibility for the automaker’s global operations, according to a statement from parent company Vingroup. He will continue to serve as chairman and CEO of its Vietnam business.

The move comes as the company looks to expand across Asia, Europe, the Middle East and North America. VinFast posted a net loss of 28.1 trillion dong (US$1.1 billion) in the first quarter, 58.9% wider from a year ago as the company faces tough competition.

A graduate of Singapore Management University, Quan Anh has held senior roles at VinFast and other companies within the Vingroup conglomerate. He has been involved in VinFast’s development from its early expansion in Vietnam through its push into overseas markets. He will also retain his position as CEO of VinMetal, Vingroup’s steel manufacturing unit.

Vuong is promoting his other son to be global CEO of his electric ride-hailing taxi company, Green & Smart Mobility JSC. Pham Nhat Minh Hoang replaces Nguyen Quoc Tuan, who has been appointed global chairman, replacing Pham Thu Huong, Vuong’s wife.

The leadership reshuffling comes as both companies seek to accelerate overseas growth.

VinFast says it is now selling EVs in 16 countries, with vehicles and electric motorcycles produced at four factories across Vietnam, Indonesia and India.

GSM operates in seven countries and is weighing plans to expand into the US by the end of 2026, ahead of a planned Hong Kong initial public offering.