Overview

• Founder Pham Nhat Vuong has agreed to buy VinFast’s newly carved-out R&D unit, Novatech, for roughly $1.52 billion.
• The deal shifts completed research investment costs from VinFast Trading and Production JSC into the Vietnam-incorporated Novatech entity.
• Novatech’s intellectual property assets will be leased back to VinFast to underpin ongoing EV production and future development.
• VinFast reported a first-quarter net loss of $712.4 million on revenues of $656.5 million, highlighting its dependence on founder funding.
• The automaker aims for 200,000 vehicle deliveries in 2025 and plans to achieve breakeven by the end of 2026.