Vietnam’s Richest Man Bets $2 Billion to Sell Cars to U.S.

(Bloomberg) — Follow Bloomberg on LINE messenger for all the business news and analysis you need.The billionaire behind six-month-old Vietnamese auto startup VinFast plans a feat even Toyota Motor Corp. and Hyundai Motor Co. couldn’t pull off during their early days: sell a car in the U.S.Pham Nhat Vuong, the Southeast Asian country’s richest man and now in charge of the new automaker, is so intent on exporting electric vehicles to the lucrative American market in 2021 that he’s plowing as much as $2 billion of his own fortune to reach that goal. His cash would account for half the …read more

Source:: Yahoo Finance

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