VinFast opens a new EV plant in Vietnam
Spread across 360,000 m2 in the Vũng Áng Economic Zone, VinFast’s new domestic plant in Hà Tĩnh is a comprehensive EV manufacturing facility. It features a body welding shop, paint shop, and general assembly, as well as a logistics warehouse and a quality control centre. The company is building a 240,000-m2 auxiliary cluster and plans to further expand this site in the future.
VinFast announced last year that it wanted to build a second plant in Vietnam in order to double its production capacity in the country.
VinFast expects the Hà Tĩnh plant to pull its suppliers to the Vũng Áng Economic Zone and help it reach closer to its goal of increasing localisation level to more than 80% by 2026. The company can roll out 35 vehicles per hour and manufacture about 200,000 units annually at the new factory. It says it plans to expand the production capacity but has yet to reveal a targeted output or year.
Initially, VinFast plans to utilise the Hà Tĩnh factory for manufacturing its smaller models, including the VF 3, Minio Green, EC Van, and several others, which it has yet to unveil. The company will sell the Hà Tĩnh-built EVs in both Vietnam and export markets. It expects the new manufacturing facility to generate about 6,000 jobs directly in the beginning and potentially expand its workforce to 15,000 at some point.
“The inauguration of the VinFast Hà Tĩnh plant marks a significant milestone in VinFast’s long-term development strategy and its global production expansion,” Vingroup Vice Chairman and CEO Nguyễn Việt Quang said on the occasion. “Once operational, this facility will help VinFast move closer to its goal of producing one million vehicles per year to meet growing demand in both domestic and international markets,” he added.
Apart from the new plant in Hà Tĩnh, VinFast operates a factory in Hải Phòng, also in Vietnam. The company has set a target of achieving an annual production capacity of 950,000 vehicles at the latter by 2026. Internationally, it plans to commence CKD operations in India and Indonesia in July and the fourth quarter of this year, respectively. It wanted to build EVs in the U.S. also from this year but postponed that plan last year to 2028.
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