- The site was initially scheduled to begin operations in July 2024.
- VinFast says its huge U.S. factory will be able to build 150,000 vehicles annually.
- The carmaker sold fewer than 1,000 vehicles in North America last year.
VinFast may delay the opening of its $4 billion factory in North Carolina according to a new report. Production at the site was initially planned to begin in July 2024 but this was pushed back until 2025 and could be delayed for a second time.
The Vietnamese manufacturer’s 2022 decision to invest $4 billion in a factory in the United States has always seemed ambitious. The factory was planned before the company started selling its electric SUVs in the United States, and it has been designed with a capacity of up to 150,000 units per year. However, VinFast has struggled to make its presence felt in the U.S. market.
Read: VinFast Sued For Not Paying $356,000 In Rent In California Store
In 2023, VinFast sold fewer than 1,000 vehicles in North America. An unnamed source informed Reuters of the factory delay, but it remains unclear when operations will commence. North Carolina’s Chatham County says it is not aware of any delays in the project. A county spokesperson did reveal that the company has revised the size of the factory on two occasions, the latest of which was made in April and is still being reviewed.
The firm’s bold ambitions extend before the United States. It aims to sell 100,000 vehicles globally this year, more than twice as many cars as it sold in 2023. Through the first quarter, VinFast had sold fewer than 10,000 vehicles but said this was due to the usual slow start to the business year. It will expand to new markets in the coming months, including Thailand and Indonesia.
At least two other factories are in the works. One will be in Indonesia, while another will open in India by 2026.
VinFast recently announced new details about its entry-level EV, the tiny VF 3. The car will start at 240 million VND or ~$9,400 in Vietnam and comes with a tiny rear-mounted electric motor with 43 hp and an 18.64 kWh lithium-ion battery pack. VinFast has not yet confirmed the car for North America but earlier this year revealed that local dealers believe it could be a strong seller in the U.S.
