VinFast, a Vietnamese startup, is moving forward with a plan to make things in the U.S. and think big.
It says VinFast plans to spend more than $4 billion on a new plant in North Carolina that will make about 7,500 cars by 2027.
200,000 or more cars will be made each year at the North Carolina plant, which will be built on a 2,150-acre site in Moncure, NC. It will be a 30-minute drive from Raleigh.
If you want to buy a car from this company, you haven’t yet.
VinFast, a company that makes high-end electric cars, wants to make them in North Carolina because of its strong commitments to building a clean energy economy, fighting climate change, and cutting down on greenhouse gas emissions in transportation. CEO of VinFast, Le Thi Thu Thuy, said in a statement released by the governor of North Carolina.
VinFast will be able to better manage its supply chain, keep prices stable, and shorten the time it takes to get VinFast’s electric cars to customers. This will help VinFast meet local environmental improvement goals.
The Tar Heel State is the most recent southeastern U.S. state to get a lot of money from the auto industry, which is becoming more and more electric. Rivian Automotive, a company that makes electric cars, said this year that it was planning to build a $5 billion truck plant near Atlanta.
Ford Motor Co. says it will make new electric F-Series pickup trucks and batteries at a huge new “mega campus” in Tennessee.
At Mercedes’ 6 million-square-foot assembly plant in Alabama, they’re going to start making electric cars. They’ll get the batteries for them from a new battery pack plant that’s going to be close to the plant.