Vingroup, one of Vietnam’s leading conglomerates, may have begun its journey in the food industry but has spent recent years capturing headlines with its technology ventures. Among its most notable initiatives is its electric vehicle subsidiary, VinFast. However, latest developments show that Vingroup’s ambitions now extend far beyond EVs.
On January 10, Vingroup announced board approval to establish VinMotion, a subsidiary dedicated to general-purpose humanoid robotics. With a 51% stake and charter capital of VND 1 trillion (USD 39.3 million), VinMotion marks the group’s latest foray into high-tech innovation. This builds on the launch of VinRobotics in November 2024, which focuses on artificial intelligence-driven robotics and automation solutions for industrial and consumer applications.
Vingroup also maintains a strong portfolio of AI assets, including VinAI and VinBigData. VinAI specializes in generative AI, producing tools like PhoGPT, a Vietnamese language model, and MirrorSense, an AI-powered automatic mirror adjustment system for VinFast’s EVs. VinBigData focuses on data science applications, including voice assistant technologies integrated across Vingroup’s products.
The group’s ambitions in AI extend into education through VinUniversity, which is exploring the integration of AI into classrooms and research. Further reinforcing this focus is VinVentures, a USD 150 million fund investing in Vietnam-founded tech startups specializing in AI and robotics, among other fields such as semiconductors and cloud computing.
Despite doubling down on AI, Vingroup has shown it is unafraid to divest where appropriate. Last December, the group said it sold VinBrain, an AI healthcare startup, to chipmaking giant Nvidia without disclosing the deal’s financial details. Prior, VinBrain had been providing productivity solutions to hospitals in Vietnam, the US, India, and Australia.
Meanwhile, Vingroup remains steadfast in its commitment to VinFast. In November 2024, the group pledged up to VND 35 trillion (USD 1.4 billion) in loans through 2026 and converted VND 80 trillion (USD 3.2 billion) in existing loans into preferred equity shares. Chairman Pham Nhat Vuong personally committed an additional VND 50 trillion (USD 2 billion) to support the EV maker, moves aimed at helping VinFast achieve profitability by 2026.
Vingroup’s EV ecosystem has also expanded through initiatives like V-Green, launched in March 2024 to enhance Vietnam’s EV charging infrastructure, and VinDT, unveiled in October 2024, which provides driver training and testing services to promote safer EV adoption. These efforts align with the group’s broader strategy to accelerate the country’s EV transition.
At the same time, Vingroup has shown decisiveness by halting ventures that no longer align with its vision. In 2021, it ceased smartphone production under VinSmart, redirecting resources toward producing EV components like battery cells and electric motors to bolster VinFast’s development.
By sharpening its focus on AI while divesting non-core assets like VinBrain, and sustaining its commitment to VinFast, it is apparent Vingroup is diversifying its portfolio. These moves reflect a concerted effort to reduce reliance on its traditional revenue streams and position itself as a high-tech leader.