Quietly but regularly, the VinFast name is making itself heard on the North American automotive landscape. The relatively new Vietnamese firm (founded in 2017) is getting ready to launch its first two models. In fact, a press event is scheduled in Vietnam in the next few weeks.
The company's first two products will be the VF 8 and VF 9 SUVs and they will be marketed in North America starting at $51,250 and $69,750 CAD, respectively. And to meet the anticipated North American demand, VinFast wants to assemble vehicles here. To that end, the company has announced an investment of up to $2 billion USD to build a plant in North Carolina, specifically in Chatham County, which is located in the centre of the state, northeast of Charlotte.
This plant will have an annual production capacity of approximately 150,000 units.
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The location of the plant in North Carolina puts it near several manufacturers and suppliers, and it’s expected to create thousands of local jobs. VinFast said its future plant will be divided into three sections - one dedicated to the manufacture of electric vehicles and buses, a second for making batteries and a third to be available to suppliers.
The construction of the plan should begin this year, with a start of production activities set for 2024.
We'll have more information on the company's plans in the coming months, as well as the vehicles it plans to offer, once we test them.
Stay tuned.