HANOI: Vietnam carmaker VinFast has signed framework agreements with Credit Suisse Ltd and Citigroup Global Markets Inc. to raise at least US$4 billion to develop an electric vehicle factory in North Carolina, the company said.
VinFast, which launched operations in 2019, is betting big on the US market, where it hopes to compete with legacy automakers and startups with two all-electric SUVs and a battery leasing model that will reduce the purchase price. The company said it is due to open its first overseas showrooms in California in the coming days, including a flagship store in Santa Monica.
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