Robots put together car bodies at a VinFast factory in Haiphong.
NHAC NGUYEN/AFP via Getty Images
Billionaire Pham Nhat Vuong’s Vingroup is in talks with JTA Investment Qatar for a potential investment of at least $1 billion in its unprofitable electric vehicle maker VinFast Auto.
Under a memorandum of understanding signed Tuesday, the Qatari company is also exploring possible investments in assets of Vinpearl, the conglomerate’s hospitality arm, Vingroup said in a statement.
“This collaboration will unlock significant opportunities for Vingroup and its subsidiaries to drive technological, infrastructural, and sustainable economic advancement in Vietnam, while establishing a foundation for international expansion,” Vingroup vice chairwoman Le Thi Thu Thuy said.
Apart from a possible equity investment in VinFast, the Qatari fund is also exploring a strategic partnership to support…
