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VinFast Auto seeks $500m loan to build lithium-ion battery plant in Vietnam
Investors - DECEMBER 8, 2023

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VinFast Auto seeks $500m loan to build lithium-ion battery plant in Vietnam

by Kali Persall

The United States International Development Financial Corp. (DFC), the U.S. government’s development finance institution, is considering a formal application from VinFast Auto for a $500 million loan to build a lithium-ion battery manufacturing facility in Vietnam.

The letter of interest recognizes the transformational opportunity that VinFast is accelerating in the electrification of the Vietnamese transportation sector. VinFast’s initiatives are built on supporting a broader innovation ecosystem through research and development, electric vehicle manufacturing, lithium-ion battery manufacturing, developing charging infrastructure nationwide and more.

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 application is being considered within the framework of COP28, which is currently taking place in the United Arab Emirates in Dubai.

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