On Monday, June 10, 2024, a Winfast Auto Ltd
24 2024 Bloomberg Finance LP
Winfast Auto Is removing his research and development assets and then selling it to the founder Pham nhat vuong $ 1.5 billion when the tycoon deepens its investment in a damaged electric vehicle maker.
According to a regulatory, the company on the Nice Deck list will create a new company for R&D assets, a newlywed research and development, which will be sold to Fam. Filing Released on Thursday. With the completion of the agreement, Novatic will continue the manufacturing operation of Winfast in Vietnam, and will help develop new products and technologies.
“This transaction reflects further efforts by the founder to simplify the company's long -term growth,” Winfast said.
The deal will facilitate the latest cash injection through PHAM to make Winfast a viable player in the global EV market. The company is opening dealerships in Asia, Europe, the Middle East and the United States earlier this month, starting to manufacture cars in a factory in the southern Indian state of Tamil Nadu.
In the first quarter of this year, during the fierce competition in the global EV market, the company's net loss increased to $ 712 million a year ago in the first quarter of this year, a year ago. In 2024, Winfast, which aims to brake at the end of next year, sold 97,000 EVs, mostly in Vietnam.
Real -time pure value with $ 12.7 billion, Fam launched it in 1993 when it established a quick noodle business in Ukraine. He sold the business to Nestlé in 2010 and used the money to launch the wingup. Since then, Wingrop has become a major gathering with real estate, retail, health care, education, automobiles and technology business.
Earlier this month, the Wangroup announced that it would invest about 374 trillion dong ($ 14 billion) to manufacture a port and logistics hub out of Hanoi, where Winfast had developed EV at the 335 hectare factory complex.
