Pham Nhat Vuong, Vietnam’s richest man with a US$11.1 billion fortune, has pumped more than $2 billion of his own money into VinFast and has said he’s willing to support the company until his cash runs out. - Reuters
HANOI: VinFast Auto Ltd is poised to raise about US$1.5 billion by selling certain research and development assets to its founder, a move that will help shore up its finances as it plans an ambitious expansion.
The Vietnamese electric vehicle maker announced a plan to spin off part of its R&D unit to a newly formed company, known as Novatech Research and Development SJC, according to a filing made to the US Securities and Exchange Commission on Thursday.
