His cash would account for half the capital investment of VinFast, which earlier this year began delivering cars to Vietnamese consumers with BMW AG-licensed engines and aims to expand into electric vehicles (EVs). VinFast follows a long list of Chinese automakers that have also had ambitions to sell vehicles in the US going back more than a decade. He owns 49 percent of VinFast, while the parent, Vingroup, holds 51 percent. Adding to these challenges is successfully manufacturing and selling electric vehicles. BAIC BluePark New Energy Technology Co (北汽藍谷新能源科技), China’s biggest maker of pure electric vehicles, forecasts a loss for this year.
