VinFast builds 7,300 billion VND electric car factory in Ha Tinh

Attending the launching ceremony were Deputy Prime Minister Tran Hong Ha, Minister of Planning and Investment Nguyen Chi Dung and leaders of ministries, branches and Ha Tinh province.

The VinFast electric car factory project has a total investment of 7,300 billion VND. Of which, the investor's capital is more than 1,000 billion (accounting for 15% of the investment capital), and mobilized capital is more than 6,200 billion.

The project is built on an area of over 36 hectares, invested by Vinhomes Ha Tinh Industrial Park Investment Joint Stock Company (VHIZ Ha Tinh - a company operating in the field of industrial infrastructure development under the Vingroup ecosystem) and leased to VinFast for a long term.

Launching ceremony of the 7,300 billion VND electric car factory. Photo: TL

The designed capacity of phase 1 is 300,000 vehicles/year, expected to increase to 600,000 vehicles/year in the following phases.

According to the plan, the VinFast Ha Tinh factory will inaugurate phase 1 in July 2025, after 8 months of starting. When put into operation, the factory will create nearly 6,000 jobs, which can increase to 15,000 jobs after a period of time, thereby contributing to solving the economic and social security problems of the locality.

Speaking at the ceremony, Deputy Prime Minister Tran Hong Ha said: “The Government, the Prime Minister, central ministries, branches and localities will continue to create all favorable conditions for national enterprises like Vingroup to realize their mission, vision and aspirations, and grow together with the country.”

Deputy Prime Minister Tran Hong Ha speaks at the ceremony. Photo: TL

According to Mr. Vo Trong Hai, Chairman of the People's Committee of Ha Tinh province, the VinFast electric car factory project is of special importance, marking a new development step of Vung Ang Economic Zone; at the same time contributing to realizing the vision and mission of VinFast.

For Ha Tinh, this project continues to mark a breakthrough in in-depth industrial development, implementing the green growth strategy and sustainable development according to the provincial planning orientation for the period 2021-2030 with a vision to 2050; contributing significantly to increasing budget revenue, strengthening Ha Tinh's internal resources for development investment, job creation and social security issues.

“The leaders of Ha Tinh province, with the highest responsibility and enthusiasm, commit to closely coordinate and accompany the group and investors to complete the following procedures and implement the project investment according to the committed schedule,” said Mr. Vo Trong Hai.

Source: https://vietnamnet.vn/vinfast-xay-nha-may-san-xuat-o-to-dien-7-300-ty-o-ha-tinh-2349656.html