VinFast, a car unit of the largest Vietnamese private conglomerate Vingroup, will open its first six U.S. stores in California on Thursday, U.S. time, or Friday, Vietnam time.
The stores will display, introduce, and sell VinFast electric cars directly to American consumers, the EV startup said in a release Wednesday.
In mid June, the company revealed at the European premiere of its VF 8 and VF 9 EVs in Norway that it plans to open more than 50 stores in Germany, France and the Netherlands.
Also on Wednesday, the Vietnamese automaker announced it has signed agreements with Credit Suisse and Citigroup on underwriting advisory for global capital raising transactions to fund its plant in the U.S.
Each contract has a minimum value of about $2 billion, focusing on building VinFast's factory in North Carolina and other business investments in the U.S. market.
VinFast filed in early April for an initial public offering in the U.S. shortly after the carmaker secured an MoU with North Carolina’s government to establish a $4 billion factory complex in the state.