Vietnamese behemoth Vingroup has established VinRobotics Research, Development and Application Company, with a charter capital of 1,000 billion dong ($39.3 million), according to an announcement.
VinRobotics is set to boost production efficiency and streamline processes across various industries, services, and daily life.
Vingroup holds a 51% ownership in the company, while billionaire Pham Nhat Vuong owns 39%. His sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each hold 5%. Ngo Quoc Hung has been appointed as CEO.
VinRobotics will focus on the research, development, and transfer of technology with an emphasis on automation, industrial robotics, and artificial intelligence (AI). The company specialises in producing and integrating smart robotic solutions to enhance production efficiency across diverse sectors.
In addition, VinRobotics aims to develop business applications that optimise processes and boost productivity, catering not only to entities within the Vingroup ecosystem but also extending its services to other significant economic and industrial sectors.
The company envisions becoming a leader in delivering high-tech products and solutions in Vietnam and throughout the region.
“In the technology era, products and solutions with a high degree of intellectual value will make significant contributions to the overall development of society. We believe that automation products and solutions from VinRobotics will bring long-term value, not only to Vingroup but also to the Vietnamese and global business community,” stated Ngo Quoc Hung, CEO of VinRobotics.
At present, Vingroup is making innovations such as VinFast electric vehicles, and smart technology endeavours including artificial intelligence and big data through brands like VinBigdata, VinAI, and VinBrain.
Most recently, Vingroup is reportedly working towards selling its stakes in artificial intelligence firms VinBrain and VinAI to global tech companies, including Nvidia.