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VinFast chief planning to invest another $1 billion of his fortune in EV maker
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VinFast chief planning to invest another $1 billion of his fortune in EV maker
Apr 24, 2024 8:26 PM

HANOI, April 25 (Reuters) - Vietnamese billionaire Pham

Nhat Vuong said on Thursday he had plans to support

Nasdaq-listed electric vehicle maker VinFast with an

additional $1 billion from his own fortune, and was also

considering listings for other companies he owns.

Speaking at a shareholder meeting of Vingroup, the

conglomerate he chairs, Vuong said he could further expand

investments in loss-making VinFast after he and Vingroup had

poured into the company $11.4 billion as of the end of last

year.

"I plan to give VinFast $1 billion from my own pocket," he

said without specifying a time frame. Vuong is also the chief

executive officer of VinFast.

He also said Vingroup was considering listing its

hospitality unit Vinpearl this year.

He added he was also planning to list the taxi unit he owns,

GSM, on the international market if conditions allow. GSM was

last year VinFast's top client.

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