Satellites developed by aerospace company VinSpace, owned by Vietnamese billionaire Pham Nhat Vuong, will be launched into orbit on a SpaceX rocket in the second quarter of 2027.
The launch will be part of SpaceX’s Transporter Rideshare program, which allows multiple customers to send satellites into orbit on a Falcon 9 rocket.
VinSpace said in a statement Tuesday that it would research, develop, manufacture, and operate the satellites, but did not disclose the satellites’ purposes.
It will test self-developed satellite modules, and gradually strengthen its ability to master satellite systems and deploy commercial applications in future.
VinSpace was founded by Vuong in November last year with charter capital of VND300 billion (US$11.5 million). It operates in six sectors, including the manufacturing of aircraft, spacecraft, and telecommunications satellites.
Vuong owns a 71% stake in VinSpace. Vingroup is the second largest shareholder, with a 19% stake, and the remaining 10% is owned held by Vuong’s two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang.
VinSpace, to support its fabrication and launch of satellites, is developing clean-room facilities, testing equipment, and a ground station network.
SpaceX is a space technology company founded in 2002 by Elon Musk, the world’s richest person. It has a market capitalization of $1.8 trillion, the eighth highest in the world.
Source: VN Express