The US President recently made comments about the VinFast factory project in the US, calling it a “meaningful investment.”
The White House published a press release regarding President Joe Biden’s program that encourages investment in the US, and mentioned VinFast as one of the projects being reviewed in North Carolina.
During a trip to North Carolina, President Biden emphasized the state’s role in the American manufacturing industry and referred to VinFast’s car and battery factory as one of two major projects for the future development of Chatham County.
“We are making chips for electric vehicles right here in the US, in North Carolina. These vehicles are battery-powered and use ore that we produce in North Carolina. We’re making electric cars in North Carolina. This is a meaningful investment,” said Mr. Biden.
In March 2022, VinFast and North Carolina signed a memorandum of understanding to build a $4 billion factory in the US, which will create 7,000 jobs and produce electric cars and buses. The factory will be located in the Triangle Innovation Point industrial park in Chatham County, covering an area of approximately 800 hectares.
The logo of Vinfast is pictured at the 2022 Paris Auto Show in Paris, France October 18, 2022. REUTERS/Stephane Mahe
The factory’s capacity in phase 1 is expected to reach 150,000 vehicles per year, with two main products: the VF 8 and VF 9 electric vehicles. Interestingly, VinFast’s US headquarters is located near Facebook, Microsoft, YouTube, and Fox Sport Media. Additionally, there is a Tesla electric vehicle charging station located right across the street from VinFast’s headquarters.
On March 2, 2023, the first VF 8 City Edition electric cars were delivered to customers in the US, while the luxury electric car model VF 9 was recently handed over in Vietnam and will soon be available to international consumers.
North Carolina Secretary of Commerce Machelle Baker Sanders expressed delight that VinFast chose North Carolina as the location for its North American manufacturing operations. She stated that automotive assembly plants are a powerful driver of economic growth due to their positive effects on the regional economy. She also pledged to work with VinFast to ensure that they can recruit a highly skilled workforce to meet their development requirements.