The United States International Development Finance Corporation (DFC) is considering a $500 million loan application from Vietnamese electric vehicle maker VinFast for expansion purposes, specifically to establish lithium-ion battery manufacturing facilities in Vietnam. VinFast, founded in 2017, started delivering electric cars in California in March and made its Nasdaq debut in August.
The loan is part of a series of initiatives discussed by both parties and if granted, would support VinFast’s global expansion and green initiatives. DFC has previously provided $737 million to projects in Vietnam, making it the largest Southeast Asian market for DFC.
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