VinFast Says It’s Signed Banks to Raise $4 Billion for US Plant

Vietnamese electric-vehicle maker VinFast said it has signed agreements with banks to raise at least $4 billion globally to fund its planned North Carolina EV factory and US rollout, according to a statement.

Credit Suisse Group AG will help arrange the issuance of offshore securities to raise around $2 billion, while Citigroup Global Markets Inc. will act as an adviser on transactions with a minimum value of around the same amount related to the development of VinFast’s US factory, the statement from VinFast parent Vingroup JSC said.