VinFast, an electric vehicle manufacturer, is locating in Chatham County

VinFast, an electric vehicle company headquartered in Los Angeles, California, announced Tuesday, March 29th that it will establish a new facility in Chatham County. The facility will produce both electric vehicles and batteries.

The announcement will bring jobs, investment to Chatham and the surrounding areas

Governor Roy Cooper announced that the automotive company purchased land at the Triangle Innovation Point in Moncure and will create 7,500 jobs at an average salary of $51,096. The company will invest $4 billion in the site and Chatham over the next four years.

Work to establish the facility will begin immediately

VinFast aims to start manufacturing and production at the facility by 2024. Planning and site development will begin immediately following the announcement and according to permitting schedules and other timelines.

The new facility will be in Moncure, at the Triangle Innovation Point

The Triangle Innovation Point is located in Moncure, within Chatham County. The site is zoned Heavy Industrial (HI) by the County and has been marketed for this use. Chatham EDC has worked with many local, regional and state partners to prepare the site and surrounding area for a user like VinFast. The EDC works in accordance with Plan Chatham to recruit companies to the area.

Chatham County emerged as the clear choice

With access to everything that the Research Triangle and Piedmont Triad regions have to offer, Chatham was the clear choice to locate the VinFast facility. The project will generate a positive economic impact from the industrial level down to small businesses, and will help to greatly diversify Chatham County’s tax base.

Learn more about VinFast

To learn more about this exciting new company that will call Chatham County home, visit their website