JAKARTA — VinFast electric auto maker has signed a long-term syndicated loan agreement with Bank Negara Indonesia (BNI) and PT Bank Maybank Indonesia Tbk (Maybank) to fund the development of its electric vehicle assembly plant in Subang, West Java, Indonesia.

The deal includes a syndicated loan of IDR 1.85 trillion (US$110 million), led and arranged by BNI, with BNI contributing IDR 1.51 trillion ($90 million) and Maybank providing the remaining portion.

All sides will also provide an additional expansion loan of $80 million, raising the total loan value to $190 million.

The funding will support the construction and operation of PT VinFast Automobile Indonesia’s EV factory, reinforcing VinFast's global production capacity and commitment to sustainable transportation.

This agreement follows a Memorandum of Understanding (MoU) signed earlier between VinFast and BNI, aiming to jointly invest in and promote green mobility solutions across Indonesia. It represents a significant step in VinFast’s ambition to establish a comprehensive electric vehicle ecosystem and accelerate the country’s transition to clean energy transportation. — VNS