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VinFast, Vietnam’s Electric Vehicle Manufacturer, to Commence U.S. Factory Construction Next Week

VinFast, the rad EV maker from Vietnam, is kickstarting the construction of its spanking new $4 billion electric vehicle factory in North Carolina next week! They’re all set to zoom into the United States market and make their four-wheeled presence felt!

This ambitious move comes as part of VinFast’s mega plan to expand and conquer the American roads. They’re fueled up and raring to go!

VinFast Auto’s head honcho, Thuy Le, revealed that once this factory gets its groove on, it’ll become the prime supplier of electric rides to the North American peeps. Talk about driving in style!

Now, hold on tight! Here’s the juicy deets on their project’s first phase: a cool $2 billion investment to churn out 150,000 vehicles per year! Can you believe it?

VinFast is pumped up and ready to take on the heavyweights, like Tesla and China’s BYD. They ain’t backing down, even when the big dogs are wagging their tails in a price war. It’s all happening as the demand for electric cars seems to be coasting a bit in the major markets.

Back in March, VinFast started cruising and delivering cars to sunny California. They’re making waves!

It’s not just wishful thinking; VinFast has got the green to back up their grand plans! Their founder and parent company pledged a cool $2.5 billion to help them speed up their overseas expansion. Talk about some serious cha-ching!

Vinfast originally thought about going public with a U.S. initial public offering to fund their North Carolina dream factory. But guess what? They changed gears in May and decided to go all out with a special purpose acquisition company (SPAC) called Black Spade Acquisition Co. A little change in the plan, but still zooming forward!

Get ready for this! VinFast is gunning to sell a mind-blowing 50,000 EVs this year alone! That’s a seven-fold jump from last year! They’re going full throttle and aiming to break even by the end of 2024. Now, that’s some turbo-charged ambition!

So, folks, keep your eyes on VinFast as they rev up their engines and get set to electrify the American roads like never before! It’s going to be one wild ride!

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