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HANOI, April 29 (Bernama-VNA): VinFast, an electric vehicle maker of the Vietnamese conglomerate Vingroup, said it had got a fresh round of funding pledges worth US$2.5 billion serving its future development.
Of the infusion, US$1 billion will be provided as a grant from its founder Pham Nhat Vuong within the next year, Vietnam news agency reported the company said in a statement.
Its parent Vingroup will provide a grant of US$500 million and a US$1 billion loan with maturity of up to five years, it added.
Established in 2017, VinFast owns a automotive manufacturing complex that boasts up to 90 per cent automation in the northern port city of Hai Phong. So far, it has launched 6 electric car models, 1 model of electric bus, and 9 models of electric motorbike.
With its second batch of automobiles exported to the US and Canada in April, the company is expecting its cars to be present in France, Germany and the Netherlands this year.
Vietnam's VinFast gets fresh funds' pledge of US$2.5bil to accelerate growth
VinFast, an electric vehicle maker of the Vietnamese conglomerate Vingroup, said it had got a fresh round of funding pledges worth US$2.5 billion serving its future development.
