The Vietnamese automaker continues its expansion plans to the United States, announcing plans to build a plant in North Carolina for production by 2024.
VinFast, a Vietnamese startup, will invest at least $2 billion in a plant in North Carolina that will start producing electric vehicles in 2024.
VinFast is now aiming to start deliveries by the end of the year, with vf 8 and VF 9 electric crossovers.
Currently, VF 8 is listed at $41,000 while VF 9 is at $56,000.
Last year, Vietnamese startup VinFast was headquartered in Los Angeles and announced its intention to sell cars in the United States. Today, the company unveiled plans for the first U.S. plant in North Carolina, where VinFast will build vf 8 and VF 9 electric crossovers as well as batteries, creating thousands of jobs.
The plant will be built at triangle innovation point in Chatham County, North Carolina, on an area of about 2,000 acres. VinFast said it will invest at least $2 billion in the first phase of construction, with an initial capacity target of 150,000 units per year. Construction will be underway this year, with production starting in July 2024. Along with crossovers, the facility will also build electric buses and batteries. Initial reports from Raliegh’s TNews & Observer predicted the creation of between 7500 and 13,000 jobs.
Although VinFast initially sold BMW-powered gas-powered vehicles in its home market starting in 2019, the expansion into the U.S. market will bring two electric crossover models, vf 8 and VF 9, formerly known as VF e35 and VF e36. The two crossovers were written by renowned Italian designer Pininfarina.
VinFast claims the mid-size 8 VF engine will produce 402 horsepower and 472 pound-feet of torque, accelerating to 60 mph in 5.5 seconds. The range of 316.9 miles in the European WLTP test cycle is targeted for VF 8, and VinFast’s website is currently listing its price at $41,000. The seven-seater VF 9 engine has the same power and torque, but it is said to take an extra second to reach speeds of 60 mph and reach 422.5 miles on the WLTP cycle. VinFast says prices will start at $56,000. Both crossovers will come with an extended driver assistance system.
Last year, VinFast told Car and Driver that VF 8 and VF 9 will be manufactured in Vietnam and imported into North America first, with production in the U.S. expected to begin in the second half of 2024. That’s in line with the timeline since today’s announcement. Earlier, VinFast said it aims to start deliveries in autumn 2022 and VinFast said the factory in Hai Phong, Vietnam, will have a production capacity of 950,000 vehicles per year by 2026.