VinFast will build its first North American plant southwest of Raleigh and expects to hire 7,500 people by 2027.
Tips and tricks to maximize your fuel economy and save a few bucks.A Vietnamese automaker announced plans Tuesday to build a plant in North Carolina to manufacture electric vehicles, promising to bring 7,500 jobs and ending the state's streak of near-misses for landing carmakers.
The company is building on a nearly 2,000-acre site that's about a 30-minute drive southwest of Raleigh and is expected to invest $4 billion in the plant. The plant is slated to be able to manufacture 150,000 cars per year. The state has agreed to use job development grants to reimburse $316 million over 32 years if it hits job-creation and investment goals. The state is also planning to provide as much as $450 million for site preparation, road improvements and other infrastructure work.
In the early 1990s, North Carolina lost out to South Carolina for BMW’s first full-service factory outside of Germany, then later to Alabama, which landed Mercedes-Benz’s SUV plant. More recently, the state fell short competing for new plants by Tesla and Rivian Automotive. Apple announced plans last April to build its first East Coast campus in Research Triangle Park between Raleigh and Durham, creating 3,000 new jobs over the next decade.
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