VinFast Breaks Ground to Commence Construction of Its Production Plant in the US After Delays

VinFast, a Vietnamese electric vehicle manufacturer, finally started the construction of its manufacturing plant in the United States following the groundbreaking ceremony that was held on Friday, July 28, in North Carolina.

The EV maker said the plant is being built on a 1,800-acre facility, and phase 1 was designed to make up to 150,000 vehicles per year. Originally, VinFast set the opening of the factory in 2024, but it was moved to 2025; thus, the start of construction was also postponed. In March, the company shared that the holdup was due to procedural delay, explaining that they “need more time to complete administrative procedures.”

In any case, according to CNBC, the state of North Carolina granted a $1.2 billion incentive to the Vietnam-based company for the factory. The facility will also mark VinFast’s arrival in the American EV market, and this means it will soon be competing with dominant players in the industry, such as Tesla and BYD.

At the groundbreaking ceremony, Governor Roy Cooper was present along with other state officials and executives of VinFast. This is a remarkable project as it will also create about 7,500 jobs for the locals and help boost the territory’s economy. ABC11 News reported that NC’s Chatham County was chosen out of 29 locations being considered for the project.

“Today's event marks a new milestone for VinFast, affirming our commitment to the North American market,” VinFast’s chief executive officer, Madam Le Thi Thu Thuy, said in a press release. “Not only will this project create thousands of jobs and contribute to North Carolina’s economic development, but VinFast’s electric vehicles produced here will also bring additional economic benefits to consumers. We also look forward to contributing to the development of the North Carolina community – our second home – during the production and business operation here.”

Photo by: Vinfast Press Release