
Vietnamese billionaire Pham Nhat Vuong has pledged to invest approximately $2 billion into his electric vehicle company, VinFast Auto Ltd., which has been struggling financially. This investment is part of a larger funding effort that includes an additional $3.4 billion from both Vuong and Vingroup, the parent company of VinFast. The total capital infusion aims to help VinFast break even by 2026. In addition to Vuong's personal investment, VinFast has secured a $1.4 billion loan from Vingroup. The company has been actively seeking financial support as it continues to face significant losses in the competitive EV market.
Vietnam's Vingroup has said it is willing to sell off assets to fund VinFast, its electric vehicle arm, as a backstop to ensure the Nasdaq-listed startup breaks even by 2026. https://t.co/2a07mXXtQq
EV maker VinFast gets $3.5bn from parent and founder to break even in 2026 https://t.co/pnVmY5KR8u
Vietnamese billionaire Pham Nhat Vuong pledged to invest about $2 billion into VinFast Auto Ltd., another major capital infusion from his personal wealth. https://t.co/Yb4uX6l71N https://t.co/JaNYpI4h0B


