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Groundbreaking in North Carolina for $4 billion Vietnam EV factory

HANOI, Vietnam: As part of its efforts to expand in the US market, Vietnamese electric vehicle maker (EV) VinFast said it will begin construction of a $4 billion factory in North Carolina next week.

A unit of Vietnam’s largest conglomerate, Vingroup, VinFast announced plans to build a US factory last year, with the aim of starting production in 2025, a year later than initially planned.

“When it begins op