The new commitments would boost total funding to nearly $17 billion.

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Loss-making EV firm VinFast to get $3.4 billion more funding from founder, parent company

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Mr. Pham Nhat Vuong, as CEO and major shareholder of VinFast, will finance 50,000 billion VND arranged from personal assets for the car company.

Ông Phạm Nhật Vượng, với tư cách tổng giám đốc và cổ đông lớn của VinFast, sẽ tài trợ 50.000 tỉ đồng được thu xếp từ các nguồn tài sản cá nhân cho hãng xe.

Tỉ phú Phạm Nhật Vượng bỏ ‘tiền túi’ rót thêm cho VinFast gần 2 tỉ USD

TUOI TRE ONLINE

Billionaire Pham Nhat Vuong spends his own money to invest nearly 2 billion USD in VinFast

(Reuters) –     Nasdaq-listed electric vehicle maker VinFast said on Wednesday it will get a fresh round of funding worth 85 trillion dong ($3.35 billion) from its founder and its parent firm, Vingroup by 2026, when it expects to break even.  VinFast began operations in 2019 and has been expanding aggressively into global markets, but the firm continues to report increasing losses as it grapples with softer demand and challenges in the sector. A…

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Loss-making EV firm VinFast to get $3.4 billion more funding from founder, parent company - Blue Water Healthy Living

Vietnamese EV automaker VinFast has just secured more funding to continue its operations. VinFast has been offered a loan for billions more from its parent company, Vingroup, including a $2.1 billion “sponsorship” from the Group’s chairman, Pham Nhat Vuong. All this is to achieve a break-even point and cash flow balance by the end of 2026. more…

Electrek

VinFast secures a $1.4 billion loan from parent Vingroup, plus another $2.1B from its chairman

Vietnam’s largest conglomerate Vingroup has committed to providing its unit VinFast additional loans of up to 35 trillion dong (S$1.85 billion) by the end of 2026.

Business Times

Vietnam’s Vingroup and its founder pledge 85 trillion dong in funding to VinFast

(Reuters) - Nasdaq-listed electric vehicle maker VinFast said on Wednesday it will get a new funding round worth 85 trillion dong ($3.35 billion) from its

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Loss-making EV company VinFast receives $3.4 billion in additional financing from its founder and parent company - THE BHARAT EXPRESS NEWS

Nasdaq-listed electric vehicle maker VinFast said on Wednesday it will get a fresh round of funding worth 85 trillion dong ($3.35 billion) from its founder and its parent firm, Vingroup by 2026, when it expects to break even. VinFast began operations in 2019 and has been expanding aggressively into global markets, but the firm continues […]

Financial Chickens

HANOI, VIETNAM – Media OutReach Newswire – 12 November 2024 – On 12 November 2024, Vingroup, Vietnam’s largest private conglomerate, and its Chairman, Mr. Pham Nhat Vuong, announced a significant financial commitment to VinFast, the Vietnamese Nasdaq-listed electric vehicle maker. Vingroup plans to lend VinFast up to 35 trillion Vietnamese dong ($1.4 billion) by the […]

European Business Magazine

VinFast secures funding from Vingroup and Pham Nhat Vuong to build financial reserves and accelerate growth - European Business Magazine

Just a year after going public via a SPAC merger, Vietnam’s ambitious EV startup VinFast finds itself in turbulent waters, grappling with mounting losses and operational setbacks that are complicating its global expansion. Now, the Nasdaq-listed EV maker is looking […] The post VinFast, Vietnam’s struggling EV startup, secures additional $3.4B in funding from founder and parent company first appeared on Tech Startups.

Loss-making EV firm VinFast to get $3.4 billion more funding from founder, parent company

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