VinFast gets regulatory approval to sell first electric SUVs in US

VinFast, an electric carmaker backed by Vietnam’s richest man, has received permission to sell EVs in the U.S. ahead of its planned initial public offering.

“We have received all necessary paperwork approvals to sell electric cars in the U.S.,” VinFast Chief Executive Officer Le Thi Thu Thuy said in an emailed statement. “That means our cars are qualified to be sold in the market.” The company, a unit of conglomerate Vingroup JSC, aims to start delivering its cars to U.S. customers this month.

U.S. Bank will facilitate consumer auto loans and leasing of VinFast electrical vehicles, according to the statement. VinFast is working with other US lenders for customer loans, it said.