MUFG grants $100m loan to EV manufacturer VinFast

VinFast will use the capital to expand its business and presence in Asia.

MUFG has granted a US$100m green loan to VinFast, a Vietnamese pure-play electric vehicle (EV) manufacturer.

VinFast’s product lineup includes electric SUVs, e-bikes, e-scooters, and e-buses. The company— a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates— is expanding globally, with a focus on markets across North America, Europe, and Asia.

The loan proceeds will be used to support VinFast’s expansion, according to a press release. In particular, VinFast aims to deploy the new capital on key projects to expand the company's business and presence in Asia.