Recently, the groundbreaking event for a VinFast EV plant took place in North Carolina. The Vietnam based manufacturer, VinFast celebrated the start of construction on its first electric vehicle(EV) facility in the state. North Carolina’s Governor, Roy Cooper was present at the event along with other state and federal government representatives.
Governor Cooper was excited about the new VinFast EV plant coming to North Carolina. Especially since it will be the state’s first automobile assembly plant. Cooper said the state had wanted an automaker for decades, so they waited patiently for the EV market.
The VinFast EV plant will be built on a 1,800-acre site, near Moncure and 30 miles southwest of Raleigh. It’s location is also 25 minutes away from Central Carolina Community College’s Lee Main Campus in Sanford. As a result, the developer is working in collaboration with Central Carolina Community College on the project. The development is also towards the eastern side of Triangle Innovation Point and about 30 miles away from Research Triangle Park.
Timeline for the VinFast EV plant
VinFast expects its EV plant to commence vehicle production by 2025 and the company will invest $4 billion on the project. Clayco is the general contractor working on the VinFast EV manufacturing plant and it will be completed in several phases. Upon completion, the property will consist of eight structures occupying 2.85 million square feet in total. The property will provide facilities such as a body shop, general assembly facility, press shop, paint shop and energy center. The project’s site plans show that the press shop will be over 75 feet tall. While the general assembly space will occupy approximately 1 million square feet.
VinFast will invest about $2 billion on Phase I of its VinFast EV plant. Additionally, the company will also receive a $1.2 billion incentive package from North Carolina to build the project. The initial phase will get the plant ready to build VinFast’s VF 7, VF 8 and VF 9 electric vehicles. The company intends to produce 150,000 of these vehicles annually at the plant. Afterwards, the second phase of the project will focus on battery production.