"I plan to give VinFast USD 1 billion from my own pocket," he said without specifying a time frame. Vuong is the chief executive of VinFast, in which he has a 97% stake in direct ownership and through companies he controls.
HANOI (Reuters) -Vietnamese billionaire Pham Nhat Vuong said on Thursday he planned to invest $1 billion more from his own fortune into Nasdaq-listed electric vehicle (EV) maker VinFast, and was considering listings for other companies he controls. Speaking at a shareholders meeting of Vingroup, the conglomerate he chairs and of which he directly owns 18% of its shares, Vuong said he could further expand investments in loss-making VinFast after he and Vingroup had poured $11.4 billion into the company as of the end of last year. Over 70% of the 35,000 cars VinFast sold last year went to an electric taxi company, GSM, owned by Vuong, filings show.