VinFast Auto .(US:VFS) Zhi Tong Cai Jing·2025-08-14 12:20Group 1 - VinFast plans to spin off part of its R&D business into a new company called Novatech, selling it for approximately $1.5 billion to its founder Pham Nhat Vuong [1] - Novatech will hold assets related to completed R&D projects and will initially remain a direct subsidiary of VinFast, which will retain about 38% ownership [1] - The transaction is seen as an effort by the founder to promote the long-term development of VinFast, while VinFast Trading and Production JSC will continue to operate its core electric vehicle manufacturing business in Vietnam [1] Group 2 - VinFast's new factory in Tamil Nadu, India, has an initial annual production capacity of 50,000 vehicles, with plans to open another factory in Indonesia by October [2] - The company aims to deliver 97,399 electric vehicles globally in 2024, with an expected domestic delivery of 200,000 vehicles in Vietnam this year, indicating a plan to at least double global deliveries [2]