HÀ NỘI — The Management Board of Hà Tĩnh Economic Zone has officially granted an investment registration certificate to VinFast Manufacturing and Trading JSC, allowing the company to proceed with its electric vehicle (EV) factory project in Vũng Áng Economic Zone, Hà Tĩnh Province.

The project has a total investment capital of more than VNĐ6 trillion (approximately US$240 million), with VinFast contributing VNĐ607 billion in equity.

The factory will cover an area of about 36.2 hectares, using the entire phase-one workshop space of Vinhomes Industrial Park Investment JSC, located in plots CN4-1 and CN4-2 within the Vũng Áng Industrial Park zoning plan. The project will operate for 70 years.

VinFast aims to mass-produce a range of electric vehicles, including electric cars, motorbikes, bicycles, pick-up trucks, buses and autonomous vehicles.

The factory is designed for an annual capacity of 400,000 vehicles, split into two phases. Phase one will deliver 200,000 units per year by the end of 2025, while phase two, scheduled for completion by the end of 2027, will raise the output to its full capacity.

The plant is expected to begin operations in the third quarter of 2025, with mass production set for the fourth quarter. By leveraging existing infrastructure, the project optimises costs and demonstrates a modern, resource-efficient approach aligned with the circular economy model.

The project is expected to generate thousands of high-quality jobs, stimulate the growth of supporting industries, facilitate technology transfer, and contribute significantly to Hà Tĩnh’s socio-economic development. — VNS