Fulfill Request, VinFast Will Build Second Factory At Home

JAKARTA - Electric vehicle manufacturer (EV) from Vietnam, VinFast announced its plans to build its second domestic production plant at home. This move will double its production capacity in order to meet the increase in demand for small and medium-dimensional models.

Vice Chairman and CEO of VinGroup, Nguyen Viet Quang said the construction of the second factory was also to answer demand in the global market which is growing rapidly while creating a strong foundation in the future.

"Demands in the international market are growing rapidly, so the construction of additional electric car plants will create a strong foundation for the important and explosive development phase in the future for VinFast," Nguyen Viet Quang said.

The manufacturer said the new facility, which is located in Ha Tinh province, is expected to produce up to 300,000 units per year in the early stages or the same as the one at the factory in Haiphong, Vietnam.

This latest assembly site will produce models such as VF 3 and VF 5 in the domestic and export sales sector with the hope that its operations will begin in July next year.

The new plant will be located in the same complex as VinFast's battery factory and will use spare parts from the company's existing factory in Haiphong.

The brand, which was founded in June 2017, has also announced plans for assembly plants in Indonesia and India as well as postponed the launch of factories in the United States (US), to be precise in North Carolina until 2028.

In Indonesia, VinFast will have an assembly plant for Battery-Based Electric Vehicles (KLBB) located in Subang, West Java. The groundbreaking ceremony was held last July.