VinFast Appoints Founder's Son as CEO and Pivots to Asset-Light Model

Key Facts

1The son of founder Pham Nhat Vuong has been appointed as the global CEO of VinFast amid leadership changes.

2The company is shifting towards an asset-light business model to reduce costs and address heavy cash burn.

3VinFast trades at a P/S ratio of 2x, significantly higher than the US Auto industry average of 0.6x.

VinFast has appointed the son of founder Pham Nhat Vuong as its new global CEO amid a broader leadership transition. Simply Wall Street reported that the company is shifting toward an asset-light business model to reduce operational costs and address its heavy cash burn.

VFS closed at $3.14 on September 28, 2026, with the stock trading at a price-to-sales (P/S) ratio of 2x. This valuation is significantly higher than the US Auto industry average of 0.6x, highlighting a premium relative to peers as the company implements its new strategic pivot to improve financial sustainability.