Vietnam News

Vietnam’s Vinfast starts construction of EV factory in the US

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Vinfast, a Vietnamese electric car manufacturer under Vingroup, held a ground-breaking ceremony for an electric car factory in North Carolina, US on Friday. The event marked an important step in Vingroup’s strategy for market expansion and brand development.

Vinfast’s car factory is the first electric car production facility in North Carolina, and it is also the largest economic development project in the state. The project has a total investment capital of 2 billion USD in phase 1, covering an area of 733 hectares. It is divided into five main production areas, including body welding, assembly, stamping, painting, and energy center.

The project is expected to create a network of suppliers and thousands of jobs for local people. It aligns with the state’s direction to develop a green, eco-friendly economy.

The Vietnamese Ambassador to the U.S., Nguyen Quoc Dzung said that this groundbreaking event is significant as it coincides with the 10-year anniversary of the comprehensive partnership between Vietnam and the United States. “It is a testament to the growth of the partnership over the past decade.”

In the first stage, the factory will produce electric vehicle models VF7, VF8, and VF9 using components purchased from suppliers in the US, Vietnam, and some countries in the region. Production expansion and upscaling will be considered based on the actual needs of the next phases.

By VTV – Thai Public Broadcasting Service – July 30, 2023

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