Vietnam’s Vinfast says agrees $4 bln EV factory funding with Credit Suisse, Citi

A VinFast electric SUV VF8 model is displayed at a store which the Vietnamese automaker plans to open in Santa Monica, California, U.S., May 23, 2022. REUTERS/David Swanson

HANOI, July 13 (Reuters) – Vietnam carmaker Vinfast has signed framework agreements with Credit Suisse (Singapore) Ltd and Citigroup Global Markets Inc. (USA) to raise at least $4 billion to develop an electric vehicle factory in North Carolina, the company said.

The announcement comes after its parent in May said that an initial public offering (IPO) for VinFast might be delayed until next year due to market uncertainty read more . Credit Suisse and Citi did not immediately respond to requests for comment.

Reporting by Phuong Nguyen
Editing by Ed Davies

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