US EditionVietnam’s EV Maker VinFast To Sell R&D Assets To Billionaire Founder For $1.5 Billion
Founder Pham Nhat Vuong invests $1.5 billion to acquire VinFast's R&D unit as part of a plan to break even by 2026 amid rising revenue and continued losses.
7 Articles
7 Articles
VinFast founder to inject another $1.5 billion in exchange for R&D assets
VinFast's founder Pham Nhat Vuong has agreed to buy the EV maker's research and development arm for $1.52 billion, his latest cash injection into the loss-making Vietnamese company as it strives to break even by the end of 2026. The deal will involve Novatech Research and Development JSC, a Vietnam-incorporat
VinFast to Spin Off R&D Assets in $1.5 Billion Deal With Founder
Vietnamese electric vehicle maker VinFast Auto Ltd. announced plans to spin off part of its research and development unit into a newly formed company, which will then be sold to the automaker’s founder in a deal worth about $1.5 billion, according to a filing.
VinFast founder to inject another $1.5B in exchange for R&D assets - report
VinFast founder Pham Nhat Vuong has agreed to buy the EV maker’s research and development arm for $1.52 billion, his latest cash injection into the loss-making Vietnamese company, Reuters reported on Thursday. The deal will involve Novatech Research and Development JSC, a Vietnam-incorporated entity, being carved out of VinFast Trading and Production JSC (VFTP), its domestic manufacturing arm, VinFast said in a filing to the U.S. Securities and …
VinFast spins off R&D department in $1.5B deal
On the Dash: VinFast will spin off part of its R&D department into a new company called Novatech Research and Development SJC. VinFast will sell all its shares in Novatech to founder and CEO Pham Nhat Vuong for $1.5 billion. VinFast Trading and Production JSC (VFTP) will remain a VinFast subsidiary and continue its EV manufacturing business. VinFast Auto Ltd. will spin off part of its research and development department into a new company calle…
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
