In an attempt to finance its international market expansion, American fund Yorkville Advisors has agreed to a share subscription pact of up to $1 billion with Vietnamese EV maker VinFast.

VinFast stated in a filing to the U.S. Securities Authority that it “Has the option, but not the obligation, to demand Yorkville to subscribe for up to $1 billion worth of ordinary shares in VinFast at any time” during the agreement’s duration.

The EV maker’s Chief Financial Officer, David Mansfield, said, “The new source of equity funding provides us with valuable optionality and access to capital to continue expanding our business globally.” He added, “While we are not obligated to draw on the full amount, the transaction aligns with our goals of opportunistic capital raising while adding liquidity to our shares over time.”

VinFast, founded and primarily controlled by Pham Nhat Vuong, Vietnam’s richest man, made an impressive Nasdaq debut in mid-August following a merger with a blank-check company. On the listing day, the automaker was valued at over $85 billion, more than its historical American competitor, Ford.

However, by the close of business on October 18, the company had lost over 84% of its value. The largest source of funding for VinFast remains Vuong. However, in April, the company said it would receive a fresh round of funding pledges worth $2.5 billion for its future development, of which $1 billion would be from its founder’s pocket.

Yorkville’s Founder and President, Mark Angelo, stated, “VinFast is a true leader in EVs. We are excited for this opportunity to be a part of VinFast’s growth and development, and we look forward to seeing VinFast’s continued success in the EV market.”

It’s also worth noting that VinFast has joined the market while Tesla and several Chinese companies are implementing cost cutbacks, which are driving down EV prices.