Automotive Manufacturer Selects Carolina Core for Assembly Plant
VinFast, a Vietnamese electric vehicle and battery company, is bringing its first North American automotive assembly and battery manufacturing plant to North Carolina. The company plans to invest $4 billion and create 7,500 jobs in Chatham County, making this the largest economic development project in North Carolina’s history. VinFast evaluated over 50 megasites in 10 states for their facility.
VinFast is the automotive branch of Vingroup, a company founded in Ukraine in 1993 that covers trade and services, technology and industry, and social enterprise. In the early 2000s, the company began in Vietnam. VinFast was founded in 2017 and became Vietnam’s first automotive manufacturer on a global scale. The company announced plans for its California headquarters earlier this year and are now announcing this new automotive assembly and battery manufacturing facility in North Carolina. VinFast plans to start producing vehicles in the United States in 2024.