VinFast appoints founder's son Pham Nhat Quan Anh as chairman
Business
VinFast, Vietnam's electric car brand, just handed the chairman role to Pham Nhat Quan Anh, who happens to be the founder's son.
He's stepping in as part of a bigger push for global growth, especially since VinFast is facing some serious financial hurdles.
Quan Anh takes over from Le Thi Thu Thuy, and the switch became official on May 23.
VinFast plans 2 Vietnam factory sales
To cut down its massive debt (about $6.9 billion), VinFast plans to sell two factories in Vietnam.
The company lost nearly $4 billion last year thanks to heavy spending abroad.
On top of that, North Carolina is suing VinFast over alleged breach of agreements tied to a planned electric vehicle plant.
VinFast says it's reviewing the legal documents before responding.