Future Tech
Loss-making EV firm VinFast to get $3.4 billion more funding from founder, parent company
Nasdaq-listed electric vehicle maker VinFast said on Wednesday it will get a fresh round of funding worth 85 trillion dong ($3.35 billion) from its founder and its parent firm, Vingroup by 2026, when it expects to break even.
VinFast began operations in 2019 and has been expanding aggressively into global markets, but the firm continues to report increasing losses as it grapples with softer demand and challenges in the sector.
- Reuters
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