VinFast, a company from Vietnam that makes electric cars, might wait longer before building a big factory in North Carolina. The factory is supposed to cost $4 billion and make electric cars and batteries. But VinFast might delay the plan again because it’s not doing well in the U.S.
Back in 2022, VinFast said it would build this factory in the United States. They wanted to make 150,000 cars every year. They hoped to benefit from the U.S. government’s support for electric cars.
First, VinFast planned to finish the factory in July 2024. Then they changed it to 2025. Now, they might change it again. Someone who knows about this said so, but they didn’t want their name to be known.
VinFast didn’t sell many cars in North America last year. They’re now looking at everything carefully before deciding what to do with the factory in North Carolina.
The local government of Chatham County, where the factory is supposed to be built, didn’t say anything about a possible delay. They did mention that VinFast had made changes to the factory’s plans a couple of times.
When VinFast first talked about the factory in 2022, U.S. President Joe Biden praised it. He said it would create many jobs.
But VinFast has faced problems in the U.S. They were sued for not paying rent for a showroom. Also, there were two investigations about a car crash in California and using patents without permission.
VinFast also hasn’t done well globally. They sold fewer than 35,000 cars worldwide last year. Most of their sales are in Vietnam, where they’re based. They also lost a lot of money last year.
However, VinFast still has big plans. They want to sell 100,000 cars this year and expand to other countries. They’re also planning to make cars in Indonesia and India by 2026.
Despite all the challenges, VinFast is determined to keep growing and making electric cars.
