Robots used for car manufacturing at VinFast factory in Hai Phong City, northern Vietnam. Photo courtesy of Vingroup
Each of the two sons of Vietnam’s top billionaire Pham Nhat Vuong holds a 5% stake in VinRobotics, a new subsidiary of Vingroup with a charter capital of VND1 trillion (US$39.35 million).
Vingroup holds a 51% stake in the company while Vuong has 39%. The remaining shares are split between his sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang, according to a Vingroup disclosure.
The establishment of VinRobotics aims to enhance the group’s high-tech industrial ecosystem, one of its three main pillars, Vingroup said.
The new company will focus on research, development, and technology transfer, particularly in automation solutions, industrial robotics, and artificial intelligence (AI), it added.
Ngo Quoc Hung, CEO of VinRobotics, said that high-intellectual products and solutions play a key role in advancing economic and social development in the technology era.
The company plans to manufacture and integrate smart robots and robotics products to optimize production processes and improve work efficiency.
VinRobotics will also develop application solutions for businesses, targeting not only Vingroup’s ecosystem but other enterprises.
Since the beginning of this year, Vingroup chairman Vuong has established several new businesses to expand the group’s high-tech industrial ecosystem.
In March, he founded V-GREEN, a company focused on developing charging stations to support VinFast’s global expansion.
Subsequently, he launched a company for trading and leasing electric cars, followed by one specializing in electric vehicle driving training.
Vuong is the richest man in Vietnam with a net worth of $4.1 billion as of Wednesday, according to U.S. magazine Forbes.
