HAIPHONG (Reuters). Vietnamese automaker VinFast claimed on Thursday that a Singapore-based holding firm that holds a stake in its business filed confidentially for an initial public offerings (IPO) with U.S. Securities regulators.

VinFast (a Vingroup JSC unit) said that the IPO’s size and range had yet to be determined.

There are many options. VinFast CEO Le Thi Thu Thu Thuy said that the company is still considering many options. He spoke to reporters at an event to show off the new VF8-powered SUV.

Last week, the company announced that it had signed an initial deal for $2 billion to establish a North Carolina factory to produce electric buses and sport utility vehicles.

VinFast believes it can compete in the U.S. with both legacy carmakers and new startups, which will be offering electric SUVs as well as a leasing option.

According to her, the IPO will be held in the second half this year. It is one way of funding the North Carolina plant as well as the U.S expansion.

In April 2013, the company stated that its valuation was $60 billion and it expected to raise at most $3 billion.