Vietnam's Vinfast to build $2 billion electric vehicle factory in U.S

Date Published03/29/2022
Author NamePhuong Nguyen,Hyunjoo Jin
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name VinFast
Parent companyVinFast
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):7000
What product(s) and/or service(s) were outsourced domestically?Manufacturing
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):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredelectric vehicle and EV batteries
What domestic positive factors made reshoring more attractive?Government Incentives
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