HO CHI MINH CITY -- Vietnam's VinFast signed deals with Credit Suisse and Citigroup to help raise roughly $4 billion in a mix of debt and equity to fund plans to make electric vehicles and batteries in the U.S. state of North Carolina.
Each bank will facilitate at least $2 billion in financing, according to a Wednesday statement from VinFast parent Vingroup. The move is the latest in a wave of Asian companies, including Taiwanese chipmaker TSMC and South Korean automaker Hyundai, which is shifting supply chains to the U.S. TSMC is building a chip factory in Arizona, while Hyundai plans to construct an EV plant in Georgia.
