VinFast Secures Air Quality Permit for North Carolina Plant

Vietnamese electric vehicle (EV) maker VinFast has received a key air quality permit from the North Carolina Department of Environmental Quality, allowing the company to proceed with the construction of its planned automobile plant in Chatham County.

VinFast is in the process of securing other necessary permits and has not yet disclosed a specific construction start date, but stated that it will begin "soon" and is currently selecting a contractor. 

The plant has a first-phase investment of approximately $2 billion and aims to start trial production by 2024. 

VinFast also plans to consider an initial public offering as early as Q2 2023, according to unnamed sources. 

Until the North Carolina facility is operational, the company will continue producing EVs at its factory in Vietnam and shipping them to the US, with customer deliveries expected to resume this month after a delay due to pending certification from the US Environmental Protection Agency.

Source: Bloomberg