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VinFast Founder Pham Nhat Vuong to Invest $1.5 Billion in R&D Assets

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VinFast founder Pham Nhat Vuong has agreed to inject $1.52 billion into the electric vehicle (EV) maker by purchasing its research and development (R&D) arm, marking his latest financial support for the loss-making Vietnamese company. The move comes as VinFast aims to break even by the end of 2026.

The deal involves Novatech Research and Development JSC, a Vietnam-incorporated entity, being carved out of VinFast Trading and Production JSC (VFTP), the company’s domestic manufacturing unit, according to a filing with the U.S. Securities and Exchange Commission. Novatech will hold investment costs related to completed R&D projects, while VFTP will continue leading EV production and future research within Vietnam.

VinFast, which debuted on Nasdaq in 2023, has faced challenges such as weak consumer demand and intense competition. The company reported a net loss of $712.4 million for the first quarter, though revenue surged 150% to $656.5 million. Shares rose 1.4% in pre-market trading to $3.59.

Since its launch in 2017, VinFast has relied heavily on support from Vuong, who owns about 98% of VinFast and its parent company, Vingroup (VIC.HM), where he serves as chairman. The transfer of Novatech shares to Vuong, valued at nearly 40 trillion dong ($1.52 billion), includes a fair value assessment of 17.25 trillion dong plus a premium. Intellectual property tied to Novatech’s assets will be leased back to VinFast as needed for manufacturing purposes.

VinFast has completed development of its first-generation EVs. R&D expenses totaled $81.2 million in Q1 2025, down 22.3% year-on-year. The company targets delivering 200,000 cars in 2025, more than double its 2024 deliveries, with most sales concentrated in the Vietnamese market.

UK Commits £250 Million to Clean Aviation Tech, Supporting Airbus and Rolls-Royce Projects

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The UK government will invest £250 million ($340 million) in next-generation clean aviation technologies, aiming to advance zero-emission flying, laser-beam manufacturing, and innovations to reduce aircraft drag. The initiative is part of a broader effort to boost Britain’s aerospace sector and drive decarbonisation.

The new R&D funding, to be announced by Industry Minister Sarah Jones at the Paris Airshow, will support collaborative projects involving Airbus, Rolls-Royce, smaller firms, and academic institutions. It includes efforts to:

  • Develop infrastructure for liquid hydrogen testing

  • Advance fuel cell systems

  • Create lightweight, sustainable materials

The investment is designed to attract private capital, generate high-skill jobs, and prepare UK supply chains for the future of green aviation.

Jones emphasized the need to support not only large manufacturers but also smaller startups:

“Getting the supply chain of smaller businesses ready is the challenge, and that’s what we want to build up in the UK.”

The announcement comes ahead of a new industrial strategy to be unveiled later this month, focused on scaling up defence and advanced manufacturing.

Airbus UK chairman John Harrison welcomed the funding, calling it a crucial catalyst for innovation and sustainability:

“Initiatives like these are absolutely critical to accelerating our decarbonisation journey and advancing sustainable, cutting-edge manufacturing.”

AstraZeneca Signs $5.3 Billion AI Research Deal with China’s CSPC to Develop Chronic Disease Therapies

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AstraZeneca has entered into a significant AI-driven research partnership with China’s CSPC Pharmaceutical Group worth up to $5.3 billion. The agreement aims to advance the development of therapies targeting chronic diseases, reinforcing AstraZeneca’s commitment to innovation in its second-largest market.

Under the collaboration, CSPC will conduct AI-led research in Shijiazhuang City to discover and develop pre-clinical candidates, including a small molecule oral therapy for immunological diseases. AstraZeneca will pay CSPC an initial upfront fee of $110 million and can receive up to $1.62 billion in development milestone payments, plus an additional $3.6 billion tied to sales milestones.

This partnership follows AstraZeneca’s broader efforts to strengthen its presence in China, including a $2.5 billion investment in a new R&D hub in Beijing announced earlier this year. It also builds on recent collaborations with AI-focused companies like Immunai, Qure.ai, and Tempus AI.

The deal also grants AstraZeneca rights to exclusive licenses for drug candidates identified through the joint research. This adds to a previous licensing deal signed in October, where AstraZeneca agreed to pay up to $1.92 billion to CSPC to enhance its cardiovascular drug pipeline.

CSPC, which derives about 80% of its revenue from finished drugs, is currently exploring additional licensing and collaboration opportunities, according to Morningstar analysts.

Sharon Barr, AstraZeneca executive, highlighted the collaboration as part of the company’s commitment to tackling chronic diseases affecting over two billion people worldwide.