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How Vinfast’s billion-dollar bet on a US factory backfired

Business deals

Vietnam carmaker’s $4bn EV plant still unbuilt, but several firms have shown interest in empty plot

While delaying its North Carolina plant opening until 2028, Vinfast began producing cars in India and broke ground for a $200 million EV assembly plant in Indonesia. © Reuters

NEW YORK – A massive U.S. auto factory producing Vinfast electric vehicles was set to open and begin operating by July 2026 in Chatham County, North Carolina.

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