Tuesday, July 23, 2024
NewsVinFast Secures $1.2 Billion in Incentives From North Carolina for its New...

VinFast Secures $1.2 Billion in Incentives From North Carolina for its New Plant

Production at VinFast’s NC plant is expected to commence in July 2024


  • VinFast’s manufacturing facility will represent a $2 billion investment in the state.

  • Construction starts in the second half of 2022.


VinFast is finally all set to break ground at their 2,000-acre future plant location in Triangle Innovation Point in Chatham County, North Carolina.

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Following the confirmation of a $1.2 billion incentive package from the State of North Carolina, VinFast will begin work on its new assembly plant in the next few months. The construction of the new facility is part of a total investment of about $2 billion for the first phase of its North American plans.

“VinFast applauds North Carolina for their efforts and determination in advancing the state’s clean energy economy and carbon mitigation goals,” said Van Anh Nguyen, CEO of VinFast Manufacturing US. “This investment by the State of North Carolina is the starting point for a future marked by innovation, job creation, and economic growth. Today exemplifies how government and industry can come together to pursue a brighter future.”

The new facility is designed to assemble as many as 150,000 vehicles annually. The plant will go online by July of 2024 and will create an ecosystem of suppliers as well as thousands of local jobs.

VinFast Partners with ProLogium Technology

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Matt St-Pierre
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

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