SEPTEMBERASIA BUSINESS OUTLOOK9Vietnamese electric vehicle maker VinFast will invest more than 1.9 trillion rupiah (US$115.4 million) to establish a manufacturing plant in Subang, West Java, Indonesia, set to begin operations by late 2025.The project, supported by syndicated loans from Bank Negara Indonesia and Maybank Indonesia, along with an additional US$80 million financing plan, represents a total commitment of over US $270 million.The Subang facility will be one of VinFast's first two overseas plants, with an initial annual capacity of 50,000 EVs. It will primarily serve Indonesia's domestic demand while functioning as an export hub for ASEAN markets. The company confirmed that the site does not overlap with Sustainable Food Agricultural Land (LP2B) and is working closely with the government to ensure compliance.VinFast's entry comes at a pivotal moment in Indonesia's EV growth story. The country, which sells over 1 million vehicles annually, targets 2 million EVs on the road by 2030. EV sales surged 151 percent year-over-year in 2024 to reach 43,188 units, nearly tripling from 2022 levels, signaling strong consumer adoption.This expansion underscores VinFast's strategy of prioritizing market share and scale over short-term profitability. The company reported a Q2 2025 net loss of US$812 million, despite a 91.6 percent revenue increase to US$663 million and a record 172 percent jump in deliveries to 35,837 vehicles. By entering Indonesia at this inflection point, VinFast aims to secure a strong foothold before the market matures and competition intensifies. Sola Security, an Israel-based AI cybersecurity startup, has raised US$35 million in Series A funding, led by S32 with participation from Microsoft's M12, New Era Capital Partners, and existing backers including Mike Moritz, S Capital, and Glilot Capital Partners.This round follows its US $30 million seed in 2024, bringing total funding to US $65 million. As part of the deal, Sola signed a cooperation agreement with Microsoft, signaling closer integration into the tech giant's enterprise security ecosystem. Founded in 2024 by Guy Flechter and Ron Peled, Sola provides a platform that enables security teams to build custom AI-powered cybersecurity solutions rather than relying on pre-built tools.In just six months, the company has attracted over 2,000 users who have built more than 1,000 AI-driven security applications, covering use cases from identity management to cloud security.The timing aligns with the AI cybersecurity market boom, projected to grow at 24.4 percent CAGR between 2025­2030 to reach US $93.75 billion. With 78 percent of CISOs reporting significant impacts from AI-powered threats, demand for adaptive, customizable defense tools is accelerating.Microsoft's involvement through M12 and partnership with Sola underscores its strategy to expand AI-driven security capabilities, complementing initiatives like Security Copilot. The deal highlights how enterprises are shifting toward tailored, AI-enabled security solutions amid global cybersecurity talent shortages.Founder Guy Flechter's track record--having sold Cider Security to Palo Alto Networks for US$300 million--adds further credibility to Sola's platform-based approach. VINFAST TO BUILD $115M EV PLANT IN INDONESIA BY 2025SOLA SECURITY RAISES $35M, PARTNERS WITH MICROSOFTNEWSROOM· VinFast to invest $115M in Indonesia's Subang EV plant· Facility to produce 50,000 vehicles annually from late 2025· Indonesia targets 2M EVs by 2030 amid surging sales· Sola Security raised $35M Series A, total funding now $65M· Partnered with Microsoft to expand AI-driven security solutions· Over 2,000 users built 1,000+ apps within six months of launch
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