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It was reported in Vingroup’s half-yearly earnings statements.
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Vingroup chairman Pham Nhat Vuong. Photo courtesy of Vingroup |
Vuong took over as CEO of the automaker earlier this year.
In early 2023 he had promised to gift VinFast $1 billion.
Vingroup has also promised to provide $500 million to the company. Further, it will lend $1 billion for five years.
The billionaire in October gifted VinFast his privately held battery manufacturing company VinES, which has a share capital of VND6.5 trillion.
Manufacturing (mostly VinFast sales) contributed the second highest revenues of VND14.2 trillion for Vingroup in the first half after only property, but posted pre-tax losses of VND18.8 trillion.
Xanh SM, an electric taxi ride-hailing company and a major buyer of VinFast vehicles, contributed revenues of VND5.7 trillion.
