Vietnamese electric vehicle (EV) manufacturer VinFast has secured a significant long-term syndicated loan agreement valued at IDR 1.85 trillion (approximately US$110 million), along with an additional US$80 million accordion facility. This financing aims to support the construction of VinFast’s electric vehicle assembly plant in Subang, West Java, Indonesia. The deal was finalized in partnership with state-owned Bank Negara Indonesia (BNI) and PT Bank Maybank Indonesia Tbk (Maybank), underscoring growing confidence in VinFast’s expansion strategy and green mobility vision.
Under the terms of the agreement, BNI will act as the lead arranger and underwriter, contributing IDR 1.51 trillion (approximately US$90 million) to the syndicated loan. Maybank will provide the remaining portion. The additional US$80 million accordion facility offers VinFast flexible funding options to support the project’s development.
This strategic financing deal marks a significant milestone in VinFast’s regional expansion journey. It reflects the company’s commitment to enhancing its production capabilities and supporting Indonesia’s transition to sustainable transportation solutions. The collaboration with leading Indonesian financial institutions highlights VinFast’s strong reputation and growth potential in the region.
Previously, VinFast and BNI signed a Memorandum of Understanding (MoU) for collaborative investment, development, and provision of financial solutions to bolster VinFast’s green ecosystem in Indonesia. This initiative aims to facilitate a seamless green transition for Indonesian consumers, enabling easier adoption of electric vehicles.
Pham Sanh Chau, CEO of VinFast Asia, expressed gratitude for the support from Indonesia’s leading financial institutions, stating, “We firmly believe this will be a vital catalyst for VinFast’s expansion in Indonesia, continuously enhancing our global production capabilities to meet the ever-increasing demand for the electric vehicle transition.”
The establishment of the Subang plant is expected to create jobs and support the growth of Indonesia’s electric vehicle industry. VinFast’s manufacturing facility in Indonesia will not only deliver smart, eco-friendly mobility solutions but also contribute to the country’s economic development and environmental sustainability goals.
