Business

VinFast gets 2.5 billion USD to accelerate growth

VinFast, an electric vehicle maker of the Vietnamese conglomerate Vingroup, said on April 26 that it had got a fresh round of funding pledges worth 2.5 billion USD serving its future development.
VinFast gets 2.5 billion USD to accelerate growth ảnh 1At VinFast automotive manufacturing complex in Hai Phong (Photo: VNA)
Hanoi (VNA) - VinFast, an electric vehicle makerof the Vietnamese conglomerate Vingroup, said on April 26 that it had got a freshround of funding pledges worth 2.5 billion USD serving its future development.

Of the infusion, 1 billion USD will be provided as a grantfrom its founder Pham Nhat Vuong within the next year, the company said in astatement. Its parent Vingroup will provide a grant of 500 million USD and a 1billion USD loan with maturity of up to five years.

Established in 2017, VinFast owns a automotivemanufacturing complex that boasts up to 90% automation in the northern portcity of Hai Phong. So far, it has launched six electric car models, one model of electric bus, and nine models of electric motorbike.

With itssecond batch of automobiles exported to the US and Canada in April, the companyis expecting its cars to be present in France, Germany and the Netherlands thisyear./.
VNA
#VinFast #Vingroup #funding pledges #future development #vietnam #vietnam news agency #vietnamplus
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