A spokesman for VinFast, a subsidiary of conglomerate Vingroup, said it had “terminated labor contracts” with the four, with their consent. The company said two of its unnamed executives resigned for personal reasons.

Four senior executives from Vietnam’s VinFast have left the electric vehicle startup as it prepares to launch its first overseas model and roll out a network of showrooms in the U.S. and Europe, the company said. The latest round of departures comes as VinFast prepares to begin construction on a $4 billion factory in North Carolina, open its first showroom in California, prepare for a potential initial public offering and U.S. government financing.

The departing executives are Emmanuel Bret, deputy chief executive of global sales; Franck Euvrard, vice president of product development; Hong Bae, deputy chief executive of vehicle technology development, and Bruno Tavares, who served as chief financial officer, the company said.

A spokesman for VinFast, a subsidiary of conglomerate Vingroup, said it had “terminated labor contracts” with the four, with their consent. The company said two of its unnamed executives resigned for personal reasons.

“They both to terminate the contract on legal terms,” ​​the company said in a statement to Reuters. “Human resource adjustment is a common business practice around the world. VinFast is no exception.”

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The latest round of departures comes as VinFast prepares to start building a $4 billion factory in North Carolina

Bret, a former BMW executive, joined VinFast in Hanoi in January to launch the company’s planned overseas sales network. He was one of the executives presenting prototypes of its VF8 and VF9 electric SUVs on behalf of VinFast at the New York Auto Show in April.

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Euvrard joined VinFast in January from Tata Technologies and is responsible for developing all of VinFast’s EV product line.

Hong Bae, a veteran of Samsung Electronics, Faraday Future and Fisker, joined VinFast last July.

Any executives could not be reached for comment.

betting on the US market

A memo from the office of VinFast chief executive Le Thi Thu Thuy seen by Reuters said all executives were fired for a range of job quality-related reasons.

A company spokesman said the memo had not been properly reviewed and had been withdrawn.

Another memo seen by Reuters said Huy Chieu, a former GM engineer who joined VinFast in November, was promoted to lead its electric vehicle development after leading work on the VF8. The same memo said the company has lead engineers on two planned future models that have yet to become prototypes, the VF5 and VF6.

VinFast confirmed the appointments detailed in the memo have been made. Chieu could not be reached for comment.

Thuy took over as chief executive of VinFast in December following the resignation of German executive Michael Lohscheller, who stepped down as chief executive of Stellantis brand Opel to lead VinFast. Lohscheller resigned for personal reasons, the company said.

VinFast has had three CEOs since its founding in 2017.

VinFast, which started production in 2019, is making a big bet on the U.S. market, hoping to lower purchase prices by competing with traditional and startups with two all-electric SUVs and a battery-lease model.

VinFast has pledged to create 7,500 jobs at its planned North Carolina plant, where it will build the battery-powered VF8 and the larger, more expensive VF9.

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It plans to start exporting the two electric vehicles to the U.S. from its existing plant in Vietnam later this year.

Notes

(This story was unedited by NDTV staff and was automatically generated from the syndicated feed.)

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