31 Mar 22

Vietnamese automaker VinFast plans to build EVs in the US

Vietnamese automaker VinFast plans to build EVs in the US

VinFast has announced that it plans to build its first North American plant in North Carolina, beginning manufacturing in 2024 to produce 150,000 vehicles annually. 

Owned by the Vietnamese Vingroup, VinFast has ambitions to grow in the US and Europe. According to the North Carolina Department of Commerce, the plant will employ 7,500 people by 2027, accelerating the infrastructure development in the state, which plans to spend $450 million in the coming years. 

VinFast said it had chosen North Carolina for the $4bn investment thanks to the state's commitment to clean energies and manufacturing premium, smart and environmentally friendly EVs.

The first investment phase will involve $2bn and see the construction of a 2,000-acre (800-hectare) factory, including three main areas for EVs production, EV battery production and ancillary industries for suppliers. 

Expanding the US network

VinFast, which showcased VF e35 midsize and VF e36 large e-SUVs in Los Angeles Auto Show in November 2021, plans to deliver these models in the fall. Both cars will be first delivered from Vietnam and manufactured in the US factory from the second half of 2024. 

VinFast, which currently has 60 sales locations in California only, will be expanding its stores across the US.

Image courtesy of VinFast.

Authored by: Mufit Yilmaz Gokmen