Governor Roy Cooper announces $2B investment in Phase 1 of Chatham County’s Triangle Innovation Point Megasite
JLL announces today client VinFast Automotive (VinFast), the Vietnamese automotive manufacturer building a new line of electric vehicles, has selected North Carolina for its first North American automotive assembly and battery manufacturing plant, creating significant jobs within Chatham County. Governor Roy Cooper and Vingroup Vice Chair and VinFast Global CEO Le Thi Thu Thuy made the official announcement Tuesday, March 29, during an event at the new Raleigh Convention Center. VinFast will invest up to $2 billion in Phase 1 at the Triangle Innovation Point megasite in Chatham County.
“We officially announced our nationwide search at the Consumer Electronics Show in early January and were confident we would identify a solution for VinFast in the early part of the year,” remarked Greg Lubar, Vice Chairman, JLL. “We were able to work swiftly and know it is through the hard work, dedication and vision of VinFast CEO Le Thi Thu Thuy and the partnership of Governor Cooper and the State of North Carolina to bring such an impressive and transformative project to not just the state, but the entire country and e-mobility industry.”
The new plant is expected to produce electric SUVs and electric buses with a capacity of up to 250,000 vehicles per year. The manufacturing complex will also include a production facility for battery components, battery cells and battery packs. The first vehicles are expected to enter into production by the end of 2024. VinFast is the only car producer in Vietnam and has been growing at an impressive rate. The company completed the construction of its factory in Haiphong and developed its first three car models in just 21 months.
“North Carolina’s strong commitments in building a clean energy economy, fighting climate change and reducing greenhouse gas emissions in transportation make it an ideal location for VinFast to develop its premium, smart and environmentally friendly EVs,” said Le Thi Thu Thuy, Vingroup Vice Chair and VinFast Global CEO. “Having a production facility right in the market will help VinFast to proactively manage its supply chain, maintain stabilized prices and shorten product supply time, making VinFast’s EVs more accessible to customers, contributing to the realization of local environmental improvement goals.”
JLL’s Greg Lubar and Matt Jackson led the nationwide search for VinFast.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About VinFast Automotive
VinFast – a member of Vingroup – envisioned to drive the movement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.
Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy to inspire global customer to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.com.
About Vingroup
Established in 1993, Vingroup is one of the leading private conglomerates in the region, with a total capitalization of $35 billion from three publicly traded companies (as of November 4, 2021). Vingroup currently focuses on three main areas: Technology and Industry, Services and Social Enterprise. Find out more at: https://www.vingroup.net/en.
