VinFast May Finally Be Able to Break Ground On Its U.S. Factory
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]
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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.
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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.
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.
I hope North Carolina has some protections in place in case this venture fails.
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.