VinFast signs 4-billion-USD deals with Credit Suisse, Citigroup for EV factory in US
Automaker VinFast on July 13 announced that it has signed agreements with Credit Suisse (Singapore) Ltd and Citigroup Global Markets Inc. to raise at least 4 billion USD to develop an electric vehicle factory in North Carolina, the US.
VinFast's factory will create a major manufacturing centre in Chatham County's Triangle Innovation Point megasite, covering an area of 800 hectares (Source: viettimes.vn)
Hanoi (VNA) – Automaker VinFast on July 13 announced that it has signed agreements with Credit Suisse (Singapore) Ltd and CitigroupGlobal Markets Inc. to raise at least 4 billion USD to develop an electricvehicle factory in North Carolina, the US.
The deals were signed by Singapore-based VinFast Trading and InvestmentPte. Ltd, with each valuing at least 2 billion USD.
VinFast's factory will create a majormanufacturing centre in Chatham County's Triangle Innovation Pointmegasite, covering an area of 800 hectares, with three main areas forelectric cars and buses production and assembly, EV batteries production, and supporting industries for suppliers.
In the first phase, the factory will have acapacity of producing 150,000 vehicles each year. VinFast will continue toinvest in this factory in future phases. Vehicles to be produced at the siteinclude the VinFast VF 9, a 7-passenger all-electric Sport Utility Vehicle(SUV) model, and the VinFast VF 8, a 5-passenger all-electric mid-size SUV one.
Le Thi Thu Thuy, VingroupVice Chairwoman and VinFast Global General Director said that leading credit institutions’accompanying with VinFast has not only proved the prestige of VinFast but alsoshowed the confidence of its partners in the firm’s investment plan ininternational market in general and the US in particular, especially the buildingof its factory in North Carolina.
Headquartered inSwitzerland, Credit Suisse is one of the world leading investment banks withits strength in asset management, banking and investment services.
Meanwhile, Citigroupis strong in strategic consulting and capital mobilisation, providing servicesto corporations, large financial institutions and governments across the world.It covers 95 countries globally./.
VinFast Trading and Service Limited Liability Company, a subsidiary automaker of Vietnamese conglomerate Vingroup, said on April 25 that it has chosen B-EV Motors as its electric vehicle distributor representative in Israel.
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VinFast's factory will create a major manufacturing centre in Chatham County's Triangle Innovation Point megasite, covering an area of 800 hectares (Source: viettimes.vn) 
