VinFast is set to receive another $1.52 billion from founder Pham Nhat Vuong, who has committed to buy the EV maker’s research and development (R&D) arm.
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On August 14, VinFast announced plans to spin off certain assets into a newly formed entity and sell all such shares held by the company in that entity to the company’s founder and CEO Pham Nhat Vuong. The transaction reflects a further effort by the founder to facilitate the company’s long-term growth.
A new Vietnam-incorporated company, Novatech Research and Development JSC (Novatech) will be spun off from VinFast Trading and Production JSC (VFTP), a subsidiary of the company. Novatech will exist as a new direct subsidiary of the company to hold certain assets related to investment costs of completed R&D projects. VinFast will hold 37.642 per cent of the charter capital of Novatech, representing 99.9 per cent of voting rights.
VFTP will remain a direct subsidiary of VinFast and continue to operate VinFast’s core electric vehicle manufacturing business in Vietnam and to conduct future R&D on new products and technologies.
After the spin-off, VinFast intends to transfer all of its shares in Novatech to its founder for a total consideration of approximately VND39.8 trillion ($1.52 billion), representing fair value of the transferred shares of VND17.25 trillion ($656.6 million) based on an independent third party valuation plus an agreed premium.
The intellectual property rights related to R&D assets held by Novatech will be leased back to VinFast for manufacturing purposes if needed.
VinFast recorded domestic deliveries of 11,479 EVs in July 2025. In total, the company delivered 79,048 EVs to customers in Vietnam during the first seven months of 2025.
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