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EV Maker VinFast is Considering a Fundraising Round!
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- The company is considering issuing convertible debt to raise funds.
- Vinfast is in talks with potential investors about a proposed debt.
According to persons familiar with the situation, VinFast, a Vietnamese electric car manufacturer, is considering a $500 million to $1 billion investment round ahead of a prospective U.S. listing.
According to the persons, the unit of conglomerate Vingroup JSC might raise the cash by issuing convertible notes. They asked not to be identified since the procedure is confidential. According to the persons, the manufacturer and its financial advisers have sought out potential investors to evaluate interest.
The sources claimed that discussions are ongoing and that there is no guarantee that the cash-raising will take place. A spokeswoman for VinFast said the business is looking at a variety of funding possibilities, including issuing convertible debt.
According to Vingroup Vice Chairwoman Le Thi Thu Thuy, the business planned to invest up to $6 billion to build an electric vehicle manufacturing facility in the United States and was in negotiations with possible investors to raise billions of dollars to fund the development. She claimed that the company wanted to go public in the United States in the next year or two, with a valuation of between $25 billion and $60 billion.