Vietnamese electric vehicle maker VinFast has received funding pledges worth $2.5 billion for its future development. Founder Pham Nhat Vuong, Vietnam’s richest man, has pledged $1 billion, while parent company Vingroup will provide a $1 billion loan and $500 million grant. VinFast is expanding in the US market and hopes to build a car and battery plant to compete with legacy automakers and startups. The company had previously announced plans for a public stock market listing in the US, aiming to raise $2 billion with a valuation of about $60 billion. The latest funding may signal a new delay to its planned listing.
resource: https://esgnews.com/vietnam-ev-maker-vinfast-secures-2-5-billion-in-funding/