NC: With $2 Billion Investment, VinFast Breaks Ground on Electric Vehicle Facility in Chatham County

VinFast, the leading Vietnamese electric car manufacturer officially broke ground on its electric vehicle manufacturing site, located within the Triangle Innovation Point in Chatham County, North Carolina on July 28.

VinFast's US 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.

The factory, which has a phase 1 total investment of up to US$2 billion, spans an area of approximately 728.43 ha and is divided into five main production areas, including a body shop, general assembly, press shop, paint shop and an energy centre. There will also be other functional facilities on the factory premises.

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 supplier base for components and materials will be primarily concentrated in the US, Việt Nam and a few other countries. Future expansion and updates for the factory will be identified in the next phase.

The VinFast electric vehicle manufacturing plant is expected to commence production in 2025, creating an ecosystem of suppliers and thousands of jobs.

The manufacturing complex, VinFast’s first electric vehicle factory outside of Việt Nam, will also play an important role as the company strives to reach world-class levels of sustainable mobility on a global scale.