VinFast to build first EV factory in North America

VinFast's factory will create a major manufacturing centre in Chatham County's Triangle Innovation Point megasite, covering an area of 800-hectares. (Source: viettimes.vn)

Hanoi (VNA) – Vietnamese automaker VinFast and thegovernment of North Carolina in the US on March 30 (Vietnam time) signed a memorandum ofunderstanding (MoU) on the construction of VinFast's first electric vehicle (EV) manufacturing factoryin North America, which has total investment of 2 billion USD in its firstphase and will create thousands of jobs.

VinFast's factory will create a major manufacturing centre in Chatham County's Triangle Innovation Point megasite,covering an area of 800-hectares, with three main areas for electric carsand buses production and assembly, EV batteries production and ancillaryindustries for suppliers.

Work on the first phase of the project will start in 2022after VinFast receives its construction permit. The factory is expected to becomeoperational from July, 2024. In the first phase, the factory will have acapacity of producing 150,000 vehicles each year. According to the MOU, VinFastwill continue to invest in this factory in future phases. Vehicles to beproduced at the site include the VinFast VF 9, a 7-passenger all-electric SportUtility Vehicle (SUV), and the VinFast VF 8, a 5-passenger, all-electricmid-size SUV.

US President Joe Biden has welcomed the construction of thefactory, describing it as the latest example for economic strategy and effortsof the US Government in building a green energy-based economy.

At the signing ceremony of the MoU between VinFast and the government of North Carolina. (Source: nld.com.vn)

North Carolina Governor Roy Cooper said that North Carolina isquickly becoming the centre of the US’s emerging, clean energy economy,stressing that VinFast's transformative project will bring many good jobs to thestate, along with a healthier environment as more electric vehicles take to theroad to help it reduce greenhouse gas emissions.

Meanwhile, North Carolina Commerce Secretary Machelle Baker Sanders said that automotive assembly plants are incredible engines for economicgrowth, due to the positive ripple effects they create across a region'seconomy. She expressed her delight that VinFast has decided to launch its NorthAmerica manufacturing operations from the state, pledging that NorthCarolina will work hard to make sure the Vietnamese investor find theskilled workforce it need to grow and thrive in the state.

VinFast was founded in 2017 and headquartered in Hanoi. The carmaker boasts astate-of-the-art vehicle production facility in Haiphong, Vietnam, thatwill have the capacity to produce 950,000 vehicles per year by 2026. VinFast has established global operations in the US, Canada, Germany, France and theNetherlands. The company currently provides an ecosystem of EV products in itshome country of Vietnam, including e-scooters, electric buses and electriccars, charging station system and green energy solutions./.

VNA