VinFast builds 2nd EV plant in Vietnam

Vietnamese electric vehicle maker VinFast announced plans on Sunday to construct a second domestic production facility in Ha Tinh province, doubling its output capacity to meet rising demand for its compact and mid-sized models.

The new plant, set to begin operations in July 2025, will have an initial annual capacity of 300,000 units, matching the capacity of its existing Haiphong facility. It will focus on producing the VF 3 and VF 5 models for both domestic and international markets.

VinFast, a subsidiary of Vingroup, has delivered 44,773 cars globally in the first nine months of 2024, achieving just over half of its 80,000-unit target for the year. Despite this, company officials remain optimistic about hitting the goal.

CEO Nguyen Viet Quang highlighted the expansion as crucial to meeting growing international demand and supporting the company’s ambitious growth plans.

The new plant will integrate with VinFast’s nearby battery facility and utilise parts from the Haiphong factory. Additionally, VinFast has announced plans for assembly plants in Indonesia and India, while delaying its North Carolina project to 2028.

Attribution: Reuters

Subediting: M. S. Salama