Vietnamese electric vehicle manufacturer VinFast plans to resume construction of its North Carolina plant in 2026 and begin production in 2028, while significantly scaling back its expected workforce, according to company disclosures and local media reporting.
The company reaffirmed its timeline in an earnings report accompanying its latest financial results, despite multiple delays since the project was first announced in 2022. “VinFast also expects to resume construction of the North Carolina manufacturing facility in 2026, with a planned SOP in 2028,” the company said in its business outlook statement.
The planned facility, located in Chatham County, North Carolina, was originally expected to employ about 7,500 workers. However, VinFast has informed local authorities that the site will now employ around 1,400 people, according to a report by Business North Carolina.
The publication said the revised figure reflects “a more sober outlook for EVs now than four years ago,” adding that while the plant could still represent a significant investment, “it would remain a major North Carolina signature business-recruiting success, but not nearly the impact expected previously.”
The reduction in planned jobs could also affect state and local incentives tied to employment targets. In 2022, authorities pledged approximately $315 million in support, contingent on investment levels and job creation commitments. According to Business North Carolina, VinFast could be required to reimburse up to $125 million in site preparation costs if it fails to create at least 3,875 jobs. The agreement also includes provisions allowing the state to repurchase parts of the site if certain milestones are not met.
VinFast did not address these specific figures in its earnings report but disclosed a financial adjustment related to the project. The company recorded an impairment charge of $235.6 million in the fourth quarter of 2025 linked to the North Carolina plant.
“This impairment charge reflects management’s decision to take a disciplined approach to accounting adjustment associated with changes in project timing and development assumptions. It does not represent a change in our long-term strategic commitment to the U.S. market,” VinFast said.
