VinFast opens its second U.S. EV factory as global expansion continues

🌍 Scaling Up: A Second Factory for Global Ambition

On June 29, 2025, VinFast officially opened its second domestic electric vehicle plant in Ha Tinh province, marking a strategic expansion beyond its flagship facility in Haiphong. The new factory spans 36 hectares (about 90 acres) and is capable of producing 200,000 EVs per year. Together with Haiphong, which aims for 950,000 units annually, it propels VinFast toward its goal of one million vehicles annually.

Behind the Numbers: Financials & Domestic Growth

VinFast is aiming to deliver 200,000 EVs in 2025, after shipping roughly 56,000 units in just the first five months—primarily within Vietnam . Although the company posted a $712 million first-quarter net loss, this was an improvement over past quarters and set against a robust 150% year-over-year revenue increase to $656 million. These figures highlight unreached potential, even as the company invests heavily in boosting capacity.

Navigating Global Hurdles

VinFast’s international ambitions include factories in the U.S., India, and Indonesia. However, these plans face some headwinds:

• The U.S. assembly plant, planned for North Carolina, has been delayed to 2028 amid tough market conditions.

• Meanwhile, the India plant in Tamil Nadu is expected to open next month (around July 2025) ().

The postponed U.S. launch reflects broader macroeconomic caution, but the domestic Ha Tinh factory helps sustain production momentum and offset global delays.

Why This Factory Matters

1. Economic Efficiency: Ha Tinh’s facility enables scalable, cost-effective manufacturing, building domestic output to support global rollouts.

2. Competitive Advantage: Higher production volumes may drive down unit costs and help VinFast compete more aggressively on price.

3. Investor & Stakeholder Confidence: Tangible growth in infrastructure and production reveals operational maturity—important during loss-making years.

What’s Ahead: U.S. Factory & Market Penetration

Despite the delay until 2028, VinFast’s U.S. plant in North Carolina still aims to generate 150,000 cars annually and create approximately 7,500 jobs. This U.S. expansion also strengthens VinFast’s global branding, especially in North America where the VF‑7 and VF‑9 models are set to roll off domestic assembly lines from 2025 onward

Takeaway

VinFast’s Ha Tinh factory underscores two critical points: robust domestic scaling and global resolve. By maximizing output in Vietnam, the company not only builds economies of scale but also bolsters its chances to make its delayed U.S. entry a success. Although financial losses linger, strong revenue growth and strategic investments suggest deliberate momentum rather than missteps.

As VinFast navigates market challenges and prepares for its U.S. plant in 2028, this second factory will serve as a backbone to its global blueprint—ensuring the brand remains competitive, scalable, and increasingly relevant on the world EV stage.