Vinfast's factory will be located in Chatham County's Triangle Innovation Point megasite, covering an area of 800-hectares, with 3 main areas: electric cars and buses production and assembly, EV batteries production and ancillary industries for suppliers.

Construction for phase 1 of the factory will start in 2022 after a construction permit is granted and production is expected to start in July, 2024. The capacity of phase 1 is expected to be 150,000 vehicles per year.

This project will generate thousands of jobs for local communities. The North Carolina Department of Commerce coordinated the state's recruitment of VinFast, which also involved state, regional, and local organizations.According to the MOU, VinFast will continue to invest in this factory in future phases. Vehicles to be produced at the site include the VinFast VF 9, a 7-passenger all-electric Sport Utility Vehicle (SUV) and the VinFast VF 8, a 5-passenger, all-electric mid-size SUV.

Founded in 2017, VinFast is a global producer of premium automobiles. Headquartered in Ha Noi, the carmaker boasts a state-of-the-art vehicle production facility in Hai Phong, that will have the capacity to produce 950,000 vehicles per year by 2026. 

VinFast has established global operations in the U.S., Canada, Germany, France and the Netherlands. The company currently provides an ecosystem of EV products in its home country of Viet Nam, including e-scooters, electric buses and electric cars, charging station system and green energy solutions./.