DFC will provide up to $500 million in funding based on the evaluation results for VinFast’s research, development, and production of lithium-ion batteries in Vietnam. This is also the first project in a series of sustainable transportation development projects in Vietnam and the world that the two sides are actively cooperating on.
To receive the funding, VinFast will undergo comprehensive evaluations on various criteria, including being a financially stable Vietnamese enterprise, complying with DFC’s and local requirements regarding development impact, environment, and society, complying with legal requirements and regulations, among other criteria. In addition, DFC also highly appreciates VinFast’s outstanding efforts through a series of projects in electric vehicle production, lithium-ion battery production, and nationwide charging station infrastructure development.
By supporting globally scaled enterprises, DFC will directly contribute to the goal of sustainable development, promoting a greener future in Vietnam and internationally.
Ms. Lê Thị Thu Thủy, VinFast’s Global CEO, shared: “VinFast is proud to contribute to the future of sustainable transportation with DFC. DFC’s funding will provide a solid foundation for VinFast to accelerate its global expansion and work towards a greener future for everyone.”
DFC is a US government agency responsible for promoting private investment in developing countries. DFC focuses on projects that have positive development impact, environmental and societal protection, respect for human rights, and safeguarding workers’ rights.
Prior to VinFast, DFC announced a $737 million investment in Vietnam, the largest investment in the Southeast Asian market. The LOI signing with VinFast is seen as an important milestone that deepens the Comprehensive Vietnam-US Strategic Partnership.
(forum.autodaily.vn)
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