VinFast Breaks Ground for its EV Manufacturing Plant in North Carolina

On July 28, 2023, VinFast officially broke ground at its electric vehicle manufacturing site, located in Chatham County, North Carolina, near Raleigh, the state capital.

The groundbreaking ceremony, which took place at the site of the future factory, marked a significant milestone toward VinFast’s global expansion and the development of the company’s supply chain in North America.

In the initial phase, the factory will focus on building VinFast’s VF 7, VF 8, and VF 9 electric vehicles with an expected production capacity of 150,000 vehicles per year. The VinFast electric vehicle manufacturing plant is expected to commence production in 2025.

The supplier base for components and materials will be primarily concentrated in the U.S., Vietnam and several other countries. Future expansion and updates for the factory will be identified in the next phase. The VinFast electric vehicle manufacturing plant in North Carolina is designed to create an ecosystem of suppliers and thousands of jobs

 

The manufacturing complex in North Carolina will be VinFast’s first electric vehicle factory outside of Vietnam. VinFast manufactures and exports a portfolio of e-SUVs, e-scooters and e-buses across Vietnam and North America, with plans to expand to Europe.

VinFast was founded in 2017 and is a member of the Vingroup conglomerate. In addition, VinFast owns and operates a state-of-the-art automotive manufacturing complex in Hai Phong, Vietnam, which is 90% automated.

VinFast became a full EV manufacturer in 2022, and to date has since delivered four EV models: VF e34, VF 8, VF 9 and VF 5 to customers in Vietnam. In early 2023, VinFast achieved an important milestone as a global EV brand when it exported its first VF 8 EVs to North America.

First-Ever EV Manufacturing Plant in North Carolina

VinFast's U.S. factory project is the first electric vehicle manufacturing facility in North Carolina, as well as the largest economic development initiative in the state’s history.

North Carolina Governor, Roy Cooper, Vietnamese Ambassador to the U.S., Nguyen Quoc Dung, and representatives from state and federal governments attended the event along with a gathering of VinFast’s partners, customers, industry experts, and journalists.

Also speaking at the groundbreaking ceremony was Le Thi Thu Thuy, known as Madame Thuy, who is the chief executive of VinFast and vice-chairwoman of the Vingroup conglomerate which is its parent company.

“Today's event marks a new milestone for VinFast, affirming our commitment to the North American market,” said Madame Thuy during the ceremony. “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.”

Phase 1 Investment of $2 Billion

The plant, which has a Phase 1 total investment of up to $2 billion USD, spans an area of approximately 1,800 acres and is divided into five main production areas, including a body shop, general assembly, press shop, paint shop and an energy center. There will also be other functional facilities in the factory premises.

VinFast has appointed Clayco as the general contractor and construction management company to lead the project and will begin the bidding process to select subcontractors soon.

“North Carolina’s skilled and diverse workforce is our greatest strength, and we have the largest manufacturing workforce in the Southeast,” said Governor Cooper. “This VinFast factory will create thousands of good-paying jobs in our state, along with a healthier environment as more electric vehicles take to the road.”

Read More: VinFast to Launch New EV-Only Brand in the U.S. for Fleets & Consumers