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Japan’s Fujitsu to Buy Back Up to $1.2 Billion of Its Shares

In Technology
April 25, 2024

VinFast chief plans to invest $1 billion more from his fortune in EV maker

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.

Reuters

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