Written by Cláudio Afonso | LinkedIn | X
The Vietnamese electric vehicle (EV) maker VinFast is reportedly seeking a bank loan of approximately $250 million to support the construction of its new assembly plant in Subang, Indonesia.
The US-listed shares of the EV manufacturer are currently trading 18 percent higher at $4.91 per share following the news.
According to Bloomberg, which cites sources familiar with the matter, the company has approached various banks in Indonesia for the loan, with the option of it being denominated either in US dollars or the local currency.
Cantor’s analyst Andres Sheppard has recently reiterated a $8 price target on the stock while lowering the delivery estimate for the second quarter from 12,022 to 10,502 units including the company’s electric buses.
The company has been accelerating its global expansion as it prepares for the opening of two new factories in India and Indonesia.
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Written by Cláudio Afonso | LinkedIn | X
