Vietnamese electric vehicle (EV) maker VinFast has received a $100 million green loan from MUFG Bank, Ltd. This money will help VinFast grow and expand its business internationally.
This loan is the start of a long-term partnership between VinFast and MUFG, showing both companies’ commitment to supporting environmentally friendly initiatives in Vietnam and around the world.
The $100 million loan is a “green loan,” which means it will be used specifically to support VinFast as a fully electric vehicle company.
VinFast plans to use the funds for important projects to grow its business in Asia, increase revenue, reduce costs, and ensure long-term success.
“The inaugural $100 million green credit facility from MUFG Bank does not only bolster our financial capacity, but also reaffirms our commitment to the global green energy transition,
“We value MUFG’s leadership in sustainable finance in Vietnam, and look forward to developing a long-term and prosperous partnership,” said Pham Nguyen Anh Thu, Deputy Chief Executive Officer of Investment of VinFast.
Takao Nozaki, Managing Director and Regional Head of Vietnam at MUFG Bank, said they are happy to support VinFast’s growth and its role as a leading player in the electric vehicle industry.
“With our strong expertise and track record in sustainable financing and experience in renewables and clean energy sectors, we are well-positioned to empower VinFast’s EV development efforts and international expansion strategy,
“Our partnership with VinFast aligns with MUFG’s strategic priorities in promoting net-zero cooperation, supporting green transition and the growth of clean energy solutions globally. We look forward to seeing VinFast’s continued success and are proud to be part of their journey towards a sustainable future,” he added.
According to the statement, this first-time partnership shows MUFG’s confidence in VinFast’s bold vision, growth potential, and inspiring journey. It also opens up opportunities for future development.
Both companies plan to explore the fast-growing electric vehicle industry while creating positive value for the community.
The loan agreement comes at a time when MUFG is playing an important role in promoting sustainable development in Vietnam. As Chairman of the Banking Working Group (2023–2025), MUFG has worked with Vietnamese ministries to hold discussions on green finance, carbon credit systems, support for startups, and environmental, social, and governance (ESG) initiatives. This shows MUFG’s role as a key bridge for green finance.
Eight years after its founding, VinFast has become one of the few fully electric vehicle companies in the world with a wide range of products and a successful NASDAQ listing.
In 2024, VinFast became the top car company in Vietnam, expanded into major markets like North America and Europe, and is growing into other markets such as India, Indonesia, and the Philippines. The company benefits from Vingroup’s strong green ecosystem built around VinFast vehicles.
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