The Strategist

Vietnamese electric car maker VinFast to launch U.S. plant in 2024

02/13/2023 - 10:31

Even though the Vietnamese company VinFast is currently laying off some workers in its North American subsidiary, it has stated that its plans to begin producing electric cars in the United States in 2024 are still on track and will be carried out.

Rutger van der Maar
Rutger van der Maar
In an interview with CNBC, VinFast CEO, "We still plan to commence production in 2024, like we were going to." The site for construction has already been chosen, and the state authorities are setting up the necessary infrastructure, she claimed, adding that the corporation is "in the last stages of receiving authorization to start building the facility (in North Carolina)."

The VinGroup company owned by Pham Nhat Vuong, the richest man in Vietnam, includes VinFast. VinFast was established in 2017 to create models in cooperation with BMW, Magna Steyr, and Pininfarina. The Vietnamese automaker disclosed plans to enter the American market in the first quarter of 2021. 150,000 electric vehicles will be to be produced annually at the North Carolina site.

Although U.S. production has not yet begun, VinFast is already receiving orders from Americans for its electric vehicles in Vietnam. The 999 VF 8 models that made up the initial shipment to the U.S. left in November 2022, but the electric vehicles have not yet been delivered to customers. Due to the fact that the automobiles are updating the installed software, the company explained why deliveries have been postponed until late February. The company’s CEO claims that VinFast has received 12,000 pre-orders for electric vehicles.