VinFast and the government of North Carolina announced the signing of the memorandum of understanding (MOU) for the establishment of VinFast’s first North American manufacturing plant. The company intends to invest up to $2 billion in the project’s phase 1, creating thousands of jobs.
VinFast’s factory will create a major manufacturing centre in Chatham County’s Triangle Innovation Point megasite, covering an area of 800-hectares, with 3 main areas: electric cars and buses production and assembly, EV batteries production and ancillary industries for suppliers.
Construction for phase 1 of the factory will start in 2022 after a construction permit is granted and production is expected to start in July, 2024. The capacity of phase 1 is expected to be 150,000 vehicles per year. According to the MOU, VinFast will continue to invest in this factory in future phases. Vehicles to be produced at the site include the VinFast VF 9, a 7-passenger all-electric Sport Utility Vehicle (SUV) and the VinFast VF 8, a 5-passenger, all-electric mid-size SUV.
“North Carolina is quickly becoming the centre 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.”
This project will generate thousands of jobs for local communities. The North Carolina Department of Commerce coordinated the state’s recruitment of VinFast, which also involved state, regional, and local organisations.
“Automotive assembly plants are incredible engines for economic growth, due to the positive ripple effects they create across a region’s economy,” said North Carolina Commerce Secretary Machelle Baker Sanders. “I’m so pleased that VinFast has decided to launch their North America manufacturing operations from our state, and we’ll work hard to make sure they find the skilled workforce they’ll need to grow and thrive in North Carolina.”