Recently, VinFast has also announced that it’s investing around $2 billion to build an electric vehicle factory in the southern Indian state of Tamil Nadu.It added that it is collaborating with Tamil Nadu’s government to begin constructing the factory this year with an initial investment of $500 mil
Billionaire Pham Nhat Vuong is Vietnam’s richest man and owner of Electric automaker VinFast Auto. He earned USD 39 billion (Rs 3 lakh crore) in one day in 2023 after his company made its public debut. Following that, the company’s shares jumped by 255 per cent, elevating Pham Nhat Vuong’s fortune to USD 44.3 billion, as per the Bloomberg Billionaires Index.
Recently, VinFast has also announced that it’s investing around $2 billion to build an electric vehicle factory in the southern Indian state of Tamil Nadu.It added that it is collaborating with Tamil Nadu’s government to begin constructing the factory this year with an initial investment of $500 million for the project's first phase. The facility is expected to create 3,500 jobs and produce 150,000 EVs annually when finished.
The company is in a quest for global expansion as they grapple to boost sales in the U.S. where it’s building a $2 billion manufacturing facility in North Carolina. It’s also planning to build a factory in Indonesia.
Notably, Pham Nhat Vuong controls 99 per cent of the company’s shares and maximum stake in the company enters through his conglomerate, Vingroup JSC.
VinFast Auto was built in 2017 and it is anticipated that the company’s sales will reach 45,000 to 50,000 this year.
Pham Nhat Vuong was born on 5th August 1968 and is Vietnam’s first billionaire. His father was part of the Vietnamese Army's air defence division, while his mother owned a tea shop. Vuong was born in Hanoi and passed from Kim Lien High School in 1985.
Thereafter in 1987, he shifted to Russia to graduate from the Moscow Geological Prospecting Institute on a scholarship in 1992. Vuong then married Phạm Thu Hương after graduation and shifted to Kharkiv, Ukraine. The couple has 3 children: Phạm Nhat Quan Anh - current Deputy General Director of Vinpearl Company Limited, Phạm Nhật Minh Hoàng and Phạm Nhật Minh Anh. Vuong began his career by establishing a restaurant where he attended to customers personally.
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