US DFC Weighs $500 Million Loan For Vietnam EV Maker VinFast
A VinFast VF8 electric vehicle.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
The US International Development Finance Corp., or DFC, signed a letter of interest with VinFast Auto Ltd. for a possible $500 million loan for the Vietnamese electric-vehicle maker to build a lithium-ion battery manufacturing facility in the Southeast Asian country.
The loan is subject to DFC’s comprehensive review and approval process, according to a VinFast statement. This is the first project in a series of sustainable transportation development initiatives in the Vietnamese and international markets being discussed by the two parties, the statement said.