17.02.2023, 13:56

Construction on VinFast’s US factory is allowed to begin

Construction on VinFast’s US factory is allowed to begin

VinFast, a Vietnamese electric vehicle (EV) manufacturer, announced on Friday that North Carolina officials had granted the automaker one of the environmental licenses required to begin construction on a $4 billion EV assembly plant in the State.

The Vingroup subsidiary from Vietnam has been making moves to increase its presence in the US in an effort to compete with local automakers.

VinFast received an “Air Permit,” the firm reported. It added that it was still looking for further approvals for the Chatham Country facility but will begin a construction tender.

“The Air Permit authorizes us to start building on phase 1 of the factory. “We will begin construction shortly,” VinFast stated in a statement, without indicating a time frame.

VinFast has stated that it intends to begin operations at the North Carolina factory, which is projected to produce more than 7,000 jobs, as early as 2024.

The project’s first phase involves a $2 billion investment in a facility capable of producing 150,000 automobiles per year. The second phase of the company’s development will concentrate on battery manufacturing.

The automaker plans to deliver its first batch of automobiles transported from Vietnam to consumers in the United States in late February, cited CNBC.