Billionaire Pham Nhat Vuong has no plans -- as yet -- to personally invest any more money in VinFast, the company's CEO said, even as the Vietnamese electric vehicle maker falls behind on factory construction plans in the U.S. and cuts staff.
Vuong, whose net worth is around $4.1 billion, is the chairman of Vingroup, a conglomerate whose operations include real estate, leisure parks and a university.
VinFast was founded by Vuong in 2017, and as of September, the EV maker's owners and lenders had invested about $7.5 billion to fund operating expenses and capital expenditures.
"Currently, Mr. Vuong has no plans" to personally invest further in VinFast, CEO Le Thi Thu Thuy said in response to questions from Bloomberg News.