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Economic Development

Automotive Manufacturer Vinfast Selects North Carolina

by EDPNC on

Governor Cooper announced yesterday that VinFast, a Vietnamese electric vehicle and battery company, is bringing its first North American automotive assembly and battery manufacturing plant to North Carolina. The company plans to invest $4 billion and create 7,500 jobs in Chatham County, making this the largest economic development project in North Carolina’s history.

“North Carolina’s state leadership is wholly committed to unlocking the economic development potential of the clean energy economy, and with the state’s network of megasites and highly skilled workforce, North Carolina gives innovative mobility companies, like VinFast, the perfect environment for growth,” said Christopher Chung, CEO of the Economic Development Partnership of North Carolina (EDPNC). “This is among the biggest economic development projects in our state’s long history, and we are confident VinFast will have a major impact on North Carolina and its residents for decades to come.”

VinFast evaluated over 50 megasites in 10 states for their facility, and the EDPNC and its Business Recruitment Managers, helped the company connect with state, like the North Carolina Department of Commerce, and local entities to secure the necessary information and details for the company to make its decision.

VinFast is the automotive branch of Vingroup, a company founded in Ukraine in 1993 that covers trade and services, technology and industry, and social enterprise. In the early 2000s, the company began in Vietnam. VinFast was founded in 2017 and became Vietnam’s first automotive manufacturer on a global scale. The company announced plans for its California headquarters earlier this year and are now announcing this new automotive assembly and battery manufacturing facility in North Carolina. VinFast plans to start producing vehicles in the United States in 2024.

The Economic Development Partnership of North Carolina Partnered with many individuals and organizations to support this project, including:

  • Governor Roy Cooper
  • Speaker Tim Moore, Senator Phil Berger and the North Carolina General Assembly
  • Secretary Machelle Sanders and the North Carolina Department of Commerce
  • Chatham County, North Carolina
  • Chatham County Economic Development Corporation
  • The North Carolina Community College System
  • The Golden Leaf Foundation
  • Duke Energy

For in-state media inquiries, please contact Maggie.Bizzell@edpnc.com. For out-of-state inquiries, please contact Anuj.Baveja@fleishman.com.