VinFast, a Vietnamese automaker, has announced a new electric vehicle assembly facility in Chatham County, North Carolina. It will be the first manufacturer of this brand in the USA.
Construction of the plant will begin later this year, and VinFast assumes the first cars will leave in 2024. The plant will employ thousands of workers and is expected to cost $2 billion to build. The 800-hectare plant will cover three main areas: production and assembly of electric cars and buses, battery production and supplier service. The factory will produce VF 9 and VF 8 models. The first will produce 402 hp, have a range of 680 km and sell for 56 thousand. dollar. Ultimately, the brand will produce approximately 150,000 cars annually in the United States. VinFast’s activities in the United States are in line with North Carolina’s ambition to become a state of clean energy. VinFast currently enters markets in Canada, Germany, France, the Netherlands and the USA.
Founded in 2017, and headquartered in Hanoi, VinFast is expected to produce 950,000 cars annually by 2026. VinFast belongs to Vingroup, which has taken control of the most important sectors of the economy in Vietnam after the regime change. Founded in 1993 and valued at $35 billion, Vingroup operates in the automobile and scooter industries, tourism, commerce, construction, education, and the healthcare system.
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