Vietnamese electric automaker VinFast is developing an electric crossover lineup with plans to produce them in the US, primarily to gain eligibility for the federal tax credit of up to $7,500. In a significant advancement, the foreign automaker announced Wednesday that it would officially break ground in its planned electric vehicle factory in North Carolina on July 28.
VinFast claims that the upcoming factory is the first EV production plant in North Carolina, essentially boosting the green mobility shift in the state.
About the project
EV-a2z previously reported that VinFast successfully secured the necessary “Air Permit” from state regulators, allowing it to start developing its proposed $4 billion factory.
“The Air Permit allows us to start construction on phase 1 of the factory. We will start construction soon VinFast statement on construction time frame.”
VinFast
Now, the company is set to hold its groundbreaking ceremony at the Triangle Innovation Point in Chatham County, North Carolina.
VinFast expects the 1,800-acre facility to have an annual production capacity of 150,000 units in the first phase. According to the press release, the factory will have two major areas: production and assembly. Apart from that, it will also have a space for supplementary supplier businesses. In effect, the project will create thousands of new job opportunities for the residents.
“The manufacturing facility in North Carolina is one of VinFast’s key projects. When it begins operations, the factory will be VinFast’s primary supplier of electric vehicles to the North American market, allowing us to optimize production and business activities. We hope the construction of the factory in Chatham County will contribute to advancing the clean energy economy in the US and help to support North Carolina’s green mobility strategy.”
Madam Le Thi Thu Thuy, VinFast Auto CEO
VinFast expects the North Carolina factory to begin operation in 2025. Notably, the North Carolina government granted VinFast a $1.2 billion incentive package for this project. It also secured financial support from the City of Sanford, Chatham County, and the Golden Leaf Foundation.
The automaker further noted that apart from the factory, it is also “expanding its retail store and service center system, organizing local test drives and displaying products events throughout California.”
See Also:
- Vietnam EV maker VinFast receives permit to build US factory
- VinFast delivers the first batch of VF8 EVs to the United States
- VinFast plans to enter the EV market in the United States
- VinFast launches its Special Aftersales Policy for its global customers
- VinFast introduces a mass-market EV, a Suzuki Jimny look-alike
The scheduled groundbreaking ceremony at the North Carolina factory marks a major advancement for VinFast’s expansion plans. It will aid the automaker in increasing its sales in the North American region as soon as it gains eligibility for the federal tax credit under the Inflation Reduction Act.
