On May 16, VinFast was granted an investment registration certificate by Ha Tinh Economic Zones Management Authority.

Spanning 36.2 hectares, the factory will cover the whole phase-one workshop space of Vinhomes Industrial Park Investment JSC in plots CN4-1 and CN4-2 within the Vung Ang Industrial Park zoning plan.

The factory will produce a wide range of electric vehicles, including electric cars, scooters, e-bikes, electric pick-up trucks, e-buses, and autonomous vehicles.

The factory has a total investment of over VND6 trillion ($231 million), with the operation lasting 70 years. The factory is slated to begin operation in the third quarter of 2025. Mass production is scheduled to begin in the fourth quarter of 2025. The company will increase capacity in 2027.

In the first phase, the company will produce 200,000 vehicles per year. In the second phase, the figure will reach 400,000 units per year by the end of 2027.

Once completed, the factory will create thousands of high-quality jobs, bolster local supporting industries, and facilitate technology transfer, thereby making significant contributions to Hung Yen’s socioeconomic development.