Vietnamese EV maker VinFast said Thursday it received $1.2 billion in incentives to build a factory in North Carolina.
The incentive package represents the state’s largest-ever economic development project and its aspirations to build North Carolina into a hub for the clean energy economy.
Construction on the 2,000-acre site at the Triangle Innovation Point in Chatham County, North Carolina, will start in the second half of the year. VinFast said it will begin building cars there in July 2024, ramping up to an annual capacity of 150,000 vehicles.
The $2 billion EV factory will make the VinFast
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