VinFast May Finally Be Able to Break Ground On Its U.S. Factory

Chris Teague
by Chris Teague

VinFast has had a bumpy ride on its way to selling vehicles in the United States, with layoffs and delays making headlines more than the EVs themselves. At least one thing has gone the company’s way, however, as it recently got a permit it needed to start construction on a North Carolina factory.

The $4 billion facility was awaiting regulatory approval, including environmental permits. A domestic manufacturing footprint is vital for VinFast to make headway here, as new EV tax credit rules place requirements on final assembly and raw materials sourcing locations.

VinFast obtained an Air Permit, which allows it to begin phase 1 of construction on the facility. The automaker is still waiting on other permits from local officials, but the start of construction is a significant step forward. The plant should create thousands of jobs starting as early as next year.

VinFast’s first deliveries in the U.S. are expected to begin this month, but the company has a steep hill to climb. Its EVs are priced on the premium side of the market and have so far received mixed reviews. It initially announced plans to sell vehicles and lease the batteries separately but has since ditched the confusing program.

[Image: VinFast]

Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.

Chris Teague
Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

More by Chris Teague

Join the conversation
10 of 23 comments
  • Tassos Tassos on Feb 17, 2023

    This can only be GOOD for the Almighty US Consumer.

    If it fails, it will be bad only for the company and for the state it gave it concessions.

  • Tassos Tassos on Feb 17, 2023

    Remember the first rustbucket Japanese imports?

    Remember the first Korean imports, when the Yugo was selling for $4,000, the Hyundai Excel ran commercials pointing out you could get TWO of them for $10,000?

    I have zero doubt the CHinese Imports will be equally successful.

    • See 3 previous
    • VoGhost VoGhost on Feb 19, 2023

      Inside, You may want to check in on your history books. China has tried invading Viet Nam before. It didn't go well for them.

  • SCE to AUX SCE to AUX on Feb 17, 2023

    I hope North Carolina has some protections in place in case this venture fails.

    • See 1 previous
    • RHD RHD on Feb 19, 2023

      There are hundreds of unemployed children after the meat plant cleaning scandal. In all likelihood they are looking for work, and are just the type of worker that cut-rate companies are looking for.

  • Jeff S Jeff S on Feb 17, 2023

    Vinfast could be very successful but since they have not sold their first EV in the US it is too early to tell. I wish them well. I think the Chinese could do well in the US EV market but that might be several more years away with the strained relations between China and the US. The Chinese already have some of the most modern technically advanced car plants in the World.