Vietnamese automaker VinFast has received approval to proceed with its new battery electric vehicle (BEV) project in the Vũng Áng Economic Zone, located in Vietnam’s Hà Tĩnh Province.
The Management Board of the Hà Tĩnh Economic Zone has granted an investment registration certificate to VinFast Manufacturing and Trading JSC for the project, which has a total investment capital of VND 6 trillion (US$ 231 million). VinFast will contribute just over 10% of the capital.
VinFast plans to produce a range of battery-powered vehicles, electric motorcycles, and bicycles on the 36-hectare site in the Vũng Áng Economic Zone. The company aims to manufacture battery-powered passenger vehicles like the VF3 and VF5 models, as well as commercial vehicles such as pickup trucks, buses, and autonomous vehicles.
The first stage of construction is expected to be completed by the end of the third quarter of 2025, with an initial production capacity of 200,000 vehicles per year. The second phase, slated for completion by the end of 2027, will increase the facility’s total production capacity to 400,000 units per year.
VinFast has emphasized that the project will create thousands of high-quality jobs directly and within local supporting industries, promote technology transfer, and significantly contribute to the region’s socio-economic development.
In addition, nominations are now open for the prestigious Just Auto Excellence Awards, which celebrates innovation, leadership, and impact in the industry. This is an opportunity for companies to showcase their achievements, highlight industry advancements, and gain global recognition. Don’t miss the chance to be honored among the best – submit your nomination today!
Overall, VinFast’s new BEV project signifies a significant step towards sustainable mobility in Vietnam, with the potential to drive economic growth and technological advancement in the region.
