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RALEIGH, 30 July 2023: VinFast, the leading electric vehicle manufacturer, recently celebrated a significant milestone as it officially broke ground for its new manufacturing site within the Triangle Innovation Point in Chatham County, North Carolina. This marks the first electric vehicle manufacturing facility in North Carolina and is the largest economic development initiative in the state’s history.
Driving Global Expansion and Supply Chain Development
The groundbreaking ceremony was attended by esteemed guests, including North Carolina Governor Roy Cooper, Vietnamese Ambassador to the US Nguyen Quoc Dung, as well as representatives from state and federal governments, industry experts, customers, partners, and journalists. VinFast’s expansion into North America represents a crucial step in its global growth strategy, and the new facility will contribute to the development of the company’s supply chain in the region.
A State-of-the-Art Facility
Situated on a sprawling 1,800-acre site, the VinFast factory comprises five main production areas, including a body shop, general assembly, press shop, paint shop, and an energy center. Additionally, the factory premises will feature various functional facilities. The Phase 1 investment for the plant amounts to USD 2bn. Initially, the factory will focus on producing VinFast’s VF 7, VF 8, and VF 9 electric vehicles, with an estimated annual capacity of 150,000 vehicles. The company plans to source components and materials primarily from the US, Vietnam, and a few other countries. Future expansions and updates will be explored in subsequent phases.
A Boost to Local Economy and Environment
Governor Roy Cooper expressed enthusiasm about the project, recognizing that the VinFast factory will contribute significantly to North Carolina’s economy by generating thousands of well-paying jobs. Moreover, the increase in electric vehicles on the road will lead to a healthier environment, aligning with the state’s commitment to sustainability.
Madam Le Thi Thu Thuy, CEO of VinFast, also shared her excitement during the ceremony, emphasizing the company’s dedication to the North American market. She highlighted the positive impact the factory would have on the local economy, as well as the benefits electric vehicles would bring to consumers. The project serves as a testament to VinFast’s commitment to the North Carolina community, becoming its second home during production and business operations.
Towards a Sustainable Future
The VinFast electric vehicle manufacturing plant is expected to start production in 2025. As a crucial addition to VinFast’s global operations, this facility will not only create an ecosystem of suppliers but also provide thousands of job opportunities. The company aims to achieve world-class sustainable mobility on a global scale, and this state-of-the-art manufacturing complex in North Carolina will play an instrumental role in realizing that vision.
Conclusion
VinFast’s groundbreaking in North Carolina is a significant step towards expanding its presence in the electric vehicle market. The company’s investment in the region will not only create economic opportunities but also contribute to a greener, more sustainable future. With a strong commitment to innovation and environmental responsibility, VinFast is poised to make a lasting impact in the automotive industry.
