VinFast Postpones $4 Billion Factory Launch in North Carolina to 2028
Vietnam's VinFast Delays US Electric Car Plant
Vietnamese electric vehicle (EV) maker VinFast is postponing the launch of its $4 billion factory in North Carolina to 2028. This delay comes amidst uncertainties in the global EV market, leading to a reduction in the delivery forecast for this year by 20,000 units.
Company Background and Updates
- Founder: Pham Nhat Vuong
- Established: 2017
- Transition: Fully electric vehicles in 2022
The company, founded by Vietnam's richest man, Pham Nhat Vuong, has adjusted its target to deliver 80,000 vehicles this year, lower than the initial plan of 100,000. Despite a sales increase of 92% in the first half of 2024, VinFast's yearly forecast remains one-fourth below expectations.
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