It was supposed to be "the crown jewel of VinFast’s global expansion." Now, the Vietnamese auto startup's $4 billion electric vehicle factory near Raleigh, North Carolina will not open until 2028, despite originally slated to be operating this month. The automaker blames "economic headwinds" and uncertainty in "the global EV landscape," but as with most things VinFast, there's more to the story than that.
On Friday evening, VinFast announced that it has "made the strategic decision to adjust the timeline for the launch of its North Carolina manufacturing facility," pushing that target date back a full four years. Construction is currently on hold at the plant, which was said to one day build the three-row VinFast VF9 and five-seat VinFast VF8 electric SUVs.
Read Article