Billionaire Pham Nhat Vuong established a steel company to make special steel for electric vehicles.

(Dan Tri) - Vingroup Corporation has just officially entered the steel industry with VinMetal Production and Trading Joint Stock Company, with an investment capital of 10,000 billion VND.

VinMetal was established with the aim of meeting the internal needs of the Vingroup ecosystem, while also participating in promoting the development of heavy industry in Vietnam. The enterprise's investment capital is 10,000 billion VND, the goal is to build a high-tech industrial steel production complex with a capacity of about 5 million tons/year in phase 1, in Vung Ang, Ha Tinh.

VinMetal will focus on producing civil steel lines for construction; hot-rolled steel, high-strength steel and special alloy steel for electric vehicle production and high-speed transport infrastructure. Key products are high-quality steel plates and stamped steel for vehicle bodies, rail steel and steel for bridges, ports and railways that meet international standards, aiming to replace imported sources and gradually export to the region.

According to the enterprise, the establishment of a steel production company is primarily aimed at supplying material needs for the core areas of the enterprise such as real estate, electric vehicles, etc. The Group also aims to proactively supply high-quality steel for industrial, energy and transportation projects that are being researched and proposed for construction, including the North-South high-speed railway, the Ho Chi Minh City - Can Gio route and the Hanoi - Quang Ninh route.

Billionaire Pham Nhat Vuong shares with Bloomberg (Photo: Bloomberg)

Recently, Vingroup established a series of new companies. Specifically, at the end of September, this group established VinDynamics Humanoid Robot Research, Development and Application Joint Stock Company with the main business field being research, development, production and technology transfer in the field of robot production.

VinDynamics has a charter capital of VND500 billion, of which Vingroup owns 51%. VinDynamics' headquarters is located at Symphony Office Building, Chu Huy Man Street, Vinhomes Riverside Urban Area, Phuc Loi Ward, Hanoi.

In March, VinEnergo was established, operating mainly in the field of electricity and electrical equipment production. Vingroup Chairman Pham Nhat Vuong currently holds 71% of VinEnergo shares, Mr. Vuong's two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each hold 5% of the capital, the rest is owned by Vingroup.

VinEnergo's first project is the Hai Phong LNG Thermal Power Plant, implemented by a joint venture with Vingroup. The project has a scale of nearly 100 hectares, with a total investment of more than VND178,000 billion.

In early 2025, the group continued to establish VinMotion - an enterprise specializing in research, development and application of multi-purpose robots with a charter capital of VND 1,000 billion and the same ownership structure as VinRobotics.

VinMotion is tasked with designing and developing the first generation of multi-purpose robots in Vietnam. These robots are capable of performing many tasks in life and production, aiming for high flexibility, with the ambition of creating products that are competitive in the international market.

Late last year, Vingroup also launched VinRobotics with a charter capital of VND1,000 billion. The shareholder structure includes Vingroup owning 51%, Mr. Pham Nhat Vuong holding 39% and two other individuals, Mr. Pham Nhat Quan Anh and Mr. Pham Nhat Minh Hoang, each holding 5%.

VinRobotics plays a role in researching technology platforms and developing robot prototypes for production and services. The company focuses on automation technology, industrial robots and artificial intelligence (AI), providing solutions to optimize production and improve productivity in industry, services and life.

Source: https://dantri.com.vn/kinh-doanh/ty-phu-pham-nhat-vuong-lap-cong-ty-thep-lam-thep-dac-chung-cho-xe-dien-20251006175117698.htm