Vietnam EV maker VinFast to start construction of US factory next week
Add BT as a preferred source
VIETNAM’S automaker VinFast on Wednesday (Jul 19) said it will start construction of its electric vehicle (EV) factory in the United States next week, aiming to produce 150,000 units per year in the first phase at its North Carolina plant.
The unit of Vietnam’s largest conglomerate Vingroup announced a plan to build a US$4 billion EV factory in Chatham County on 1,800 acres of land in March last year.
Commissioning was targeted for 2025, a year later than its initial plan.
In February, VinFast received an environmental permits required to start construction on phase 1 of the planned project.
The factory consists of two main areas for electric vehicle production and assembly and other supplier businesses, VinFast said in a statement. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Keppel H1 net profit drops 59% to S$155 million on legacy rig impairments, M1 deal fallout
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
Singtel explores Nasdaq-SGX dual listing for data centre arm Nxera, local data centre Reit
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
