VinFast, the automaker based in Vietnam, has announced its upcoming construction of an electric vehicle (EV) factory in the United States. The company plans to commence construction next week at its North Carolina plant and aims to produce 150,000 units per year during the initial phase.
VinFast, a subsidiary of Vingroup JSC (VIC.HM), Vietnam’s largest conglomerate, revealed its intention to establish a $4 billion EV factory on a 1,800-acre plot of land in Chatham County back in March of last year. The target for the factory’s completion has been adjusted to 2025, one year later than the original plan.
In February, VinFast obtained the necessary environmental permits to initiate construction for the first phase of the project. The factory will encompass two primary areas dedicated to EV production and assembly, as well as additional spaces for supplier businesses, as stated in VinFast’s official statement.
Recent data from Experian indicates that only 128 units of the VinFast VF 8 crossover were registered in the United States between January and May of this year. Despite the company importing approximately 3,000 vehicles into North America since March, its deliveries in the U.S. have experienced a slow start.
