Vietnam EV maker VinFast gets fresh funding pledges of US$2.5 billion

HANOI: Vietnamese electric vehicle maker Vinfast said on Wednesday (Apr 26) it had got a fresh round of funding pledges worth US$2.5 billion for its future development.

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