VinFast announces first EV plant based in the United States – VF8, VF9 SUVs to be produced from July 2024 –

VinFast has signed a memorandum of understanding (MoU) with the government of North Carolina to set up the Vietnamese carmaker’s first North American electric vehicle manufacturing plant in the state.

Located in the Chatham County’s Triangle Innovation Point megasite and covering an area of 800 hectares, the upcoming VinFast facility will feature three main areas: electric cars and buses production and assembly, EV batteries production and ancillary industries for suppliers.

The company plans to invest up to USD2 billion (around RM8.4 billion) in the project’s first phase of construction, which will start in 2022 after a construction permit. Vehicle production is expected to start in July 2024, with the capacity of phase one said to be 150,000 units per year. VinFast will continue to invest in this factory in future phases, following the MoU.

Models that will be produced at the facility include the VF8 and VF9 (previously known as the VF e35 and VF e36), both of which were introduced at the 2021 Los Angeles Auto Show. A few months later at this year’s Consumer Electronics Show (CES), VinFast brought out the VF5, VF6 and VF7, which it said will allow it to serve all five major vehicle segments, from the small crossover to the large SUV – these models should also be produced at the new facility.

“North Carolina is quickly becoming the center of our country’s emerging, clean energy economy,” said North Carolina governor Roy Cooper. “VinFast’s transformative project will bring many good jobs to our state, along with a healthier environment as more electric vehicles take to the road to help us reduce greenhouse gas emissions,” he added.

“North Carolina’s strong commitments in building a clean energy economy, fighting climate change and reducing greenhouse gas emissions in transportation make it an ideal location for VinFast to develop its premium, smart and environmentally friendly EVs,” said Le Thi Thu Thuy, Vingroup vice chair and VinFast CEO.

“Having a production facility right in the market will help VinFast to proactively manage its supply chain, maintain stabilised prices and shorten product supply time, making VinFast’s EVs more accessible to customers, contributing to the realization of local environmental improvement goals,” she added.

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