On October 5, 2023, Vingroup Joint Stock Company (Ticker: VIC) announced that Movian AI is no longer a subsidiary under Vingroup’s management. This decision came after a reevaluation of Movian AI’s financial situation and development strategy. Vingroup stated that Movian AI will operate as an independent company, no longer subject to directives or regulations from Vingroup. This transition is expected to allow Movian AI to grow stronger in the artificial intelligence and technology sectors, attracting more investments and improving competitiveness in the market. The current technological systems and business model of Movian AI will continue to be maintained and developed with the existing workforce. Vingroup is committed to supporting Movian AI during this transition phase to ensure the company’s stability and sustainable growth.
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