Company/Division name | VinFast |
Type of work | Manufacturing |
Reshoring category: | Foreign Direct Investment |
Total number of jobs (added or to be added): | 1000 |
Year reshoring announced: | 2022 |
Year reshoring implemented or to be implemented: | 2024 |
Domestically, the work will be done: | In-house |
Capital investment ($): | 2000 |
Country(ies) from which reshored: | Viet Nam |
State(s) reshored to: | NC |
If relevant, work nearshored to: | - |
Industry(ies): | Transportation Equipment |
Product(s) reshored | EVs |
What non-domestic negative factors made offshoring less attractive? | Total cost |
What domestic positive factors made reshoring more attractive? | Eco-system synergies, Government Incentives, Proximity to customers/market, Biden |
Government Incentive dollar amount: | $1.2 billion |