VinFast, a Vietnamese EV maker is now allowed to start construction on their first US-based EV manufacturing plant in North Carolina, as reported by Electrek.
A Global Brand
The EV maker has shown its intention to become a global brand, and it's taking huge strides to get there. In March 2022, VinFast already signed a memorandum of understanding with the government of North Carolina to build their first North American manufacturing facility in the US.
Initially, the company said they would invest up to $2 billion in the first phase of the site as it aimed to start construction by September 2022. In July 2022, Chatham County and the state handed the EV maker a $1.3 billion incentive package, which is the largest in state history.
The first phase is expected to produce 150,000 EVs every year when fully operational. On the other hand, the second phase will be focused on the battery production side.
Following the air quality permit granted to VinFast, the company says it will move forward with construction. The next step is to get a permit from the US Army of Engineers to minimize water and wetland damages. However, the EV maker said that the site is designed to avoid impact to wetlands.
The date when construction would start isn't specified by the EV maker. Still, VinFast aims to start production in mid-2024.
Also read: VinFast Releases Details Behind VF 6 and VF 7, Reservations to Begin in March 2023
More EV Brands Coming to the US
VinFast's US plant is part of a larger trend of EV makers looking to enter the US market. Other foreign automakers such as Hyundai, Kia, and even Volkswagen have already announced plans to build plants in the US.
These moves are part of a larger trend of EV makers looking to expand their presence in the US. This is due to the increasing demand for electric vehicles.
As more automakers enter the US market, it will become increasingly competitive. This is good news for consumers, as they will have more options when it comes to buying electric vehicles.
The EV market has already seen an influx of new models over recent years with many major carmakers now offering at least one all-electric model or hybrid option in their lineup. Now, with VinFast's plans to build a factory in America, there may be even more options available soon.
VinFast promises its cars will offer competitive pricing along with cutting-edge technology such as advanced driver assistance systems (ADAS) which can help improve safety while driving and make it easier than ever before for drivers of all ages and abilities get behind the wheel without fear or worry about navigating traffic safely themselves .
With this kind of innovation being offered by VinFast alongside other established brands like Hyundai Kia Volkswagen etc., customers are sure to find something perfect suited just right them when shopping around for an electric vehicle!
Related article: Vietnam-Based EV Maker VinFast Reduces Jobs in US, Canada
