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Home » Vietnamese EV maker set to tender $4bn North Carolina factory

Vietnamese EV maker set to tender $4bn North Carolina factory

by Leilani Sengtavisouk
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Vietnamese EV maker VinFast said today that it would launch a tender for the construction of a $4bn assembly plant in North Carolina after obtaining one of the approvals it requires from regulators, Reuters reports.

The company, a subsidiary of construction, technology and property conglomerate Vingroup, is building the factory to compete in the US market.

The plan took a step forward after obtaining an “air permit” for its Chatham County site. This means the factory’s atmospheric emissions will be within permitted limits. 

VinFast commented: “The air permit allows us to start construction on phase 1 of the factory. We will start construction soon.”

The move comes just under a year after the company announced its plans to build in North Carolina. Chatham County authorities noted at the time that the investment would be “the largest economic development project in North Carolina history”, and would create at least 7,500 jobs over five years.

Phase one of the project includes a $2bn investment in a factory capable of producing 150,000 vehicles a year. The company’s second phase will focus on battery production.

The carmaker is due to deliver its first batch of cars shipped from Vietnam to US customers from late February.

Source: Global Construction Review

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