Vietnamese EV Maker Gets $1 Billion in Funding Led by UAE

Vietnam’s electric vehicle manufacturer VinFast Auto is expected to receive at least $1 billion in overseas funding led by Emirates Driving Company (EDC), Abu Dhabi’s leading driver training and road safety institute, Bloomberg reported on Wednesday, quoting a source with knowledge of the agreement. VinFast and its parent company, Vingroup, earlier this week signed strategic partnerships with companies in the Middle East during an official visit of Vietnamese Prime Minister Pham Minh Chinh to the United Arab Emirates (UAE). The memoranda...