VinFast obtains key permit for building US plant

The company is in the process of obtaining additional permits for the factory to be built in Chatham County, and plans to begin construction soon, though it did not indicate a specific date, Bloomberg reported.

VinFast is also in the process of selecting a contractor to build the plant.

VinFast announced last year that it would eventually build a $4-billion plant in the U.S., with $2 billion invested in the first phase.

The company has also registered for an IPO in that country, and could launch it in the second quarter of this year.

Its CEO, Le Thi Thu Thuy, said this week things are on track to start trial production at the North Carolina facility by 2024.

It has shipped 999 electric cars to the U.S, but customer handovers have been delayed until the second half of this month because the company was waiting for certification from the US Environmental Protection Agency of the increase in its model VF8’s driving range, which is now 333 kilometers.