Which Financial Group Accepts $500 Million Funding For Vinfast To Make Electric Vehicles

In an important step at the COP28 Conference, the US International Development Finance Corporation (DFC) officially signed a Letter of Intent (LOI) to sponsor 500 million USD for VinFast Auto (Nasdaq: VFS), to promote the development of electrified transportation. This is not only an important step in VinFast’s journey but also DFC’s strong commitment to sustainable development and the Comprehensive Strategic Partnership between Vietnam and the US.

Financial Support for Lithium-ion Battery Research and Manufacturing Facilities

A grant of up to 500 million USD will be provided by DFC based on the results of evaluating VinFast’s projects to establish lithium-ion battery research, development, and production facilities in Vietnam. This is the first project in a series of sustainable transport development initiatives in Vietnam and around the world, where the two sides are committed to closely collaborating to achieve this goal.

Evaluation Criteria and Sustainability Commitment

VinFast will have to meet a series of criteria to undertake the funding, including solid financial and economic health, compliance with DFC requirements related to development, environmental, social impact, as well as legal regulations. This is also an opportunity for DFC to evaluate VinFast’s remarkable efforts in producing electric vehicles and lithium-ion batteries, as well as developing charging station infrastructure on a nationwide scale.

DFC – An Important Strategic Partner

DFC, an agency under the US Government, is responsible for promoting private investment in developing countries. Through this project, DFC not only supports VinFast but also makes an important contribution to the goal of sustainable development and promoting a greener future in Vietnam and around the world.

Important Momentum in Vietnam – US Relations

This is not the first time DFC has accepted investment in Vietnam, but the $500 million donation to VinFast is considered an important step forward, deepening the Comprehensive Strategic Partnership between the two countries. . Their goal is to promote projects that create positive impacts, protect the environment and society, and ensure worker rights.

Comment by Ms. Le Thi Thu Thuy, Global General Director of VinFast

Ms. Le Thi Thu Thuy, Global General Director of VinFast, shared: “VinFast is proud to accompany DFC, contributing to the future of sustainable transportation. DFC’s funding will help us move forward on our journey to international expansion and a green future for everyone.”

In short, the cooperation between VinFast and DFC is not only an opportunity to promote the electric car industry in Vietnam but also an important step in promoting sustainable development and creating positive values ​​for international community. When VinFast and DFC cooperate, they not only build cars, but also build a green and sustainable future for the world.

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