Amid increasingly challenging global market conditions, electric vehicle (EV) maker VinFast stated on 12 November 2024 that it has secured Vietnamese Dong 35tr (US$1.4bn) in funding from its parent company Vingroup. It will also receive a personal pledge of Vietnamese Dong 50tr from Chairman Pham Nhat Vuong, who is the majority (97.9%) shareholder. Through this cash injection, VinFast hopes to improve its cash flow and break even by 2026.
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