VinFast, an electric vehicle manufacturer, will build an automotive plant in Chatham County
On March 29th, 2022, North Carolina Governor Roy Cooper announced that VinFast, an electric vehicle company headquartered in Los Angeles, California, 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. VinFast is planning to offer 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 has begun
VinFast held the official groundbreaking for their site on July 28th, 2023. The site is cleared and the first concrete pour of the project was completed that day. The Triangle Innovation Point, VinFast’s new site, 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.
Moncure’s Small Area Plan
Now that VinFast has decided to locate at the Triangle Innovation Point the Chatham County government has begun small area planning for the surrounding area. The planning staff will be reviewing the needs and impacts of the VinFast project and making plans for future development around the site. Learn more about the Small Area Plan here.
Learn more about VinFast
To learn more about this exciting new company that will call Chatham County home, visit their website https://vinfastauto.us/.