VinFast breaks ground on 2nd EV plant in Vietnam
Sunday, December 08, 2024, 15:35 GMT+7
Vietnam's leading private conglomerate Vingroup on Sunday coordinated with the administration in Ha Tinh Province to start work on a VinFast electric vehicle (EV) production plant in the north-central province.
Upon completion, the plant, built in Vung Ang Economic Zone in Ha Tinh, will be the second VinFast’s EV production plant in Vietnam, following the first one in northern Hai Phong City.
Attending the groundbreaking ceremony included Deputy Prime Minister Tran Hong Ha, Minister of Planning and Investment Nguyen Chi Dung, secretary of the Ha Tinh Party Committee Hoang Trung Dung, and other local officials.
The new VinFast production facility will span over 36 hectares.
The new plant is projected to have an initial annual production capacity of 300,000 cars, matching the output of the existing facility in Hai Phong.
This capacity is set to double to 600,000 vehicles per year in subsequent phases, creating up to 15,000 jobs.
Scheduled to open in July 2025, the plant will focus on manufacturing VF 3 and VF 5 models for both domestic and international markets.
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| Delegates make a symbolic gesture to start construction on VinFast’s EV production plant in Ha Tinh Province, north-central Vietnam. Photo: Le Minh / Tuoi Tre |
Nguyen Viet Quang, vice-chairman and CEO of Vingroup, said VinFast had taken the lead in terms of market share in the local automobile market.
Demand in international markets is growing rapidly, so the construction of the EV production factory in Ha Tinh will create a solid foundation for an important and explosive development phase ahead for VinFast, Quang added.
The plant in Ha Tinh will be VinFast’s fifth plant worldwide.
Besides the Hai Phong facility, VinFast is developing factories in India, Indonesia, and the U.S., with those in India and Indonesia expected to begin operations next year.
Speaking at the groundbreaking ceremony, Deputy Prime Minister Ha commended Vingroup for its pioneering efforts in fostering a green future and building an ecosystem of high-quality products and services.
These contributions, he noted, not only enhance the quality of life for Vietnamese citizens but also elevate the global standing of Vietnamese brands.
He added that the government, along with ministries, agencies, and local authorities, will continue to create favorable conditions for domestic enterprises like Vingroup to realize their missions, visions, and aspirations.
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