VinFast said it plans to resume construction of its long-delayed electric vehicle manufacturing factory in North Carolina this year, reviving one of the largest EV factory projects announced in the United States.

The Vietnamese automaker confirmed the plan on March 16, 2026, while releasing its fourth-quarter and full-year 2025 financial results, stating that work on the facility in Chatham County, North Carolina is expected to restart in 2026.

The plant — located at the Triangle Innovation Point megasite near the Raleigh-Durham region — had previously been delayed as the company slowed spending and adjusted its global expansion strategy.

Under the revised timeline, VinFast now expects the factory to begin vehicle production in 2028.

A $4 billion manufacturing project

The North Carolina facility represents a major investment by VinFast in the U.S. market. The company has planned up to $4 billion in total investment for the project, with roughly $2 billion allocated for the first phase of construction.

Once operational, the factory will produce up to 150,000 electric vehicles annually, including models for the North American market.

The facility will create approximately 7,500 direct jobs, making it one of the largest economic development projects in North Carolina’s history.

Project first announced in 2022

VinFast first announced plans for the plant in March 2022, selecting a nearly 2,000-acre site in Chatham County as its first manufacturing base in the United States.

Construction officially began with a groundbreaking ceremony in July 2023, marking the start of early development work on the site.

Initial construction activities focused primarily on land clearing, grading, and infrastructure preparation, laying the groundwork for the assembly plant and supporting facilities.

Construction slowed after 2024 delay

Progress at the site slowed in 2024 after VinFast announced it would postpone the start of production from its earlier target to 2028, citing the need to manage capital expenditures while expanding into additional global markets.

As a result, vertical construction of the main manufacturing buildings had not fully progressed before activity at the site slowed.

The VinFast North Carolina EV factory is being developed with VinFast Auto as the project owner, overseeing overall construction and operations. Clayco serves as the general contractor and construction manager, responsible for coordinating site development and construction activities. State and local partners include the North Carolina Department of Commerce, which manages economic development support and incentives, and Chatham County, which handles local permitting and site coordination. Duke Energy is listed as a partnering organization in state economic development announcements, supporting the broader project infrastructure planning.

Incentives and economic impact

The North Carolina EV manufacturing facility is supported by a substantial public incentive package totaling approximately $1.2 billion, making it one of the largest economic development projects in the state.

State-level incentives include:

A Job Development Investment Grant (JDIG) of up to $316 million over 32 years, contingent on VinFast meeting specific job creation and investment targets.

$450 million in infrastructure funding to support roads, water, and sewer improvements at the site.

$38 million for workforce training programs through local community colleges.

A $50 million grant from the Golden LEAF Foundation to support rural development linked to the project.

Local incentives from Chatham County are valued at around $400 million, also tied to performance milestones. Additional support from local organizations and commercial entities adds further financial backing for the project.

VinFast will receive most incentive payments only after it meets hiring and investment milestones over the life of the agreement. State officials estimate the plant could generate more than $70 billion in economic impact for North Carolina through new jobs, tax revenues, and expanded supply chain activity.

Strategic role in VinFast’s U.S. expansion

VinFast has positioned the North Carolina facility as a cornerstone of its strategy to build a manufacturing footprint in the United States.

The company said during its earnings announcement that it continues expanding sales and operations globally while increasing vehicle deliveries.

If completed as planned, the North Carolina plant would serve as the company’s primary production base for the U.S. market, supporting its push to scale electric vehicle sales internationally.

The VinFast North Carolina EV factory marks a significant expansion of electric vehicle manufacturing in the Southeast, bringing large-scale production and thousands of jobs to Chatham County. Across the region in Jacksonville, Florida, Holon is building an autonomous shuttle manufacturing facility, producing next-generation mobility vehicles designed for smart urban transport. Together, these projects illustrate how the Southeast is emerging as a hub for advanced vehicle technologies, combining traditional electric vehicles with innovative autonomous systems to shape the future of transportation.

VinFast North Carolina EV Factory – Factsheet

Location: Triangle Innovation Point, Chatham County, NC (near Raleigh-Durham)

Project Announced: March 2022

Groundbreaking: July 28, 2023

Construction Status:

Paused in 2024 → Resumption planned in 2026 (announced March 16, 2026 during Q4 & full-year 2025 earnings)

Target Production Start: 2028

Investment: $4B total ($2B Phase 1)

Plant Size: 2,000 acres

Assembly building: 782,255 sq ft

Production Capacity: Up to 150,000 EVs/year (VF8 & VF9 SUVs)

Employment: 7,500 direct jobs ($51K avg. salary) + indirect supply chain jobs

Construction Stage Before Pause:

Land clearing, grading, infrastructure prep; vertical assembly construction not started

Reason for Delay: Capital management during global expansion; focus on Asian markets

Incentives & Support: >$1.2B in state/local grants, infrastructure funding, and tax incentives

Strategic Importance: Core U.S. manufacturing base; anchors regional EV supply chain; supports VinFast’s North American expansion

Economic Impact: One of the largest EV investment projects in North Carolina; part of growing U.S. EV manufacturing wave

Project Team – VinFast North Carolina EV Factory

• VinFast Auto: Project owner; overall responsibility for construction and operations.

• Clayco: General contractor / construction manager for the North Carolina facility.

• North Carolina Department of Commerce: State partner for economic development support and incentive oversight.

• Chatham County: Local government partner for permitting, site approvals, and community coordination.