Vinfast’s EV ambitions just got a $2.5B boost

Vietnamese EV automaker Vinfast is getting a $2.5 billion injection of capital as it pursues an ambitious plan to woo U.S. consumers with a slate of electric SUVs and crossovers.
Billionaire Pham Nhat Vuong, who founded Vinfast’s parent company Vingroup, committed Wednesday to invest $1 billion of his personal wealth via a grant in the EV company. Vingroup, the country’s largest conglomerate, will invest $500 million. The parent company has also agreed to loan Vinfast an additional $1 billion with a maturity of up to five years.
A representative of Vuong’s said in a statement

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