EV maker VinFast to buy its battery maker sibling VinES from founder

EV maker VinFast to buy its battery maker sibling VinES from founder

FILE PHOTO: The logo of Vinfast is pictured at the 2022 Paris Auto Show in Paris, France October 18, 2022. REUTERS/Stephane Mahe

Electric vehicle maker VinFast Auto said on Wednesday it would acquire a 99.8% stake in battery maker VinES from its founder Pham Nhat Vuong as it seeks to ramp up its integration in the production value chain and competitive advantage.