-

U.S. International Development Financial Corporation Signed Letter of Interest Considering USD500 Million Loan to VinFast

original VinFast Global CEO Madame Le This Thuy and DFC CEO Scott Nathan (Photo: Business Wire)

VinFast Global CEO Madame Le This Thuy and DFC CEO Scott Nathan (Photo: Business Wire)

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Within the framework of COP28, VinFast Auto (Nasdaq: VFS) (VinFast) and the United States International Development Financial Corporation (DFC) have signed a letter of Interest (LOI) to consider a formal application by VinFast for a USD500 million loan to establish a lithium-ion battery manufacturing facility in Vietnam. The signing not only reaffirms both parties’ commitment to fostering sustainable transportation, but also marks a significant milestone in the Vietnam - U.S. Comprehensive Strategic Partnership.

DFC and VinFast will further discuss and consider VinFast’s formal application for a $500 million loan for the establishment of its lithium-ion battery manufacturing facilities in Vietnam, subject to DFC’s comprehensive review and approval process. This is the first project in a series of sustainable transportation development initiatives in the Vietnamese and international markets being actively discussed by the two parties.

The LOI stands in recognition of the transformational opportunity that VinFast is accelerating in the electrification of the Vietnamese transportation sector. VinFast’s initiatives to support the electrification of the Vietnamese transportation sector in Vietnam and abroad are built on supporting a broader innovation ecosystem through research and development, electric vehicle manufacturing, lithium-ion battery manufacturing, developing charging infrastructure nationwide, and many others.

By offering loans to global electric vehicle manufacturers, DFC can substantially contribute to promoting sustainable development initiatives and foster a greener future on a global scale.

Madame Le Thi Thu Thuy, Global CEO of VinFast, said: “VinFast is proud to work with DFC to lead the way to future of sustainable transportation. DFC financing would set a path forward for VinFast’s global expansion strategy and its journey toward a greener future for all.”

The U.S. International Development Finance Corporation (DFC) is the U.S. Government's development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC invests across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. To date, DFC has provided support in the amount of $737 million to development projects in Vietnam, making the country its largest market in Southeast Asia.

Contacts

v.maint85@vingroup.net

Industry:

VinFast

NASDAQ:VFS
Release Versions
EnglishFrench

Contacts

v.maint85@vingroup.net

Social Media Profiles
VinFast Canada on Facebook
VinFast Canada on Instagram
VinFast Canada on Linkedin
More News From VinFast

Used EVs May Be More Reliable Than You Think. VinFast Is Making Them Easier to Buy

MARKHAM, Ontario--(BUSINESS WIRE)--Electric vehicles have been on the road for more than two decades, giving researchers an increasingly substantial body of real-world data to assess how they hold up over time. And the findings may surprise some drivers: studies suggest that as vehicles accumulate mileage, the simpler mechanical architecture of EVs can work increasingly in their favor. It makes sense when you think about it. Unlike gasoline-powered vehicles, EVs do not require a conventional en...

VinFast Helps Bring New-Car Confidence to Canada’s Used EV Market

MARKHAM, Ontario--(BUSINESS WIRE)--Used EVs in Canada are becoming easier to find, cheaper to run and easier to trust. As the market matures, lower prices, battery longevity and longer warranties are strengthening the case for buying used, with VinFast adding confidence through its Certified Pre-Owned program. The used EV market is picking up speed in Canada, with electric vehicles now moving through the second-hand market faster than their gasoline counterparts. Clutch reported that used EVs s...

The VinFast VF 8 Could Be the Right Next Step From Your Sedan

MARKHAM, Ontario--(BUSINESS WIRE)--A sedan can also be perfectly practical when it’s just you, your partner and maybe a few bags for a weekend away. But when a kid or two enters the picture, the sedan-shaped vehicle tends to show its shortcomings. Each time the whole family goes on a trip, you’ll find the cabin quickly filling up with luggage, a stroller and a plethora of unnamed, but no doubt necessary, items. After a while, the joy of traveling with loved ones can give way to a game of luggag...
Back to Newsroom