VinFast CEO to inject $1bn of personal wealth into Vietnam EV maker

HO CHI MINH CITY — The chief executive of VinFast will invest $1 billion of his own money into the Vietnamese electric vehicle maker to support the company as it deals with ballooning upfront spending.

Pham Nhat Vuong made his pledge Thursday during a shareholders meeting of parent conglomerate Vingroup. Vuong, the founder and chairman of Vingroup, is the wealthiest man in Vietnam.