Posted on 01 Jul 2025
Vietnamese electric vehicle manufacturer VinFast on Sunday officially inaugurated its new EV manufacturing plant in Hà Tĩnh, Vietnam – its second facility to commence production.
Located in the Vũng Áng Economic Zone, the 360,000-square-metre facility is designed to produce 200,000 vehicles/year, Kallanish notes. Initially, the plant will produce compact urban EV models such as the VF 3, Minio Green, and EC Van, as well as other models in development.
VinFast says the plant features highly automated production lines with technology from partners such as DÜRR, ABB, FANUC, and Siemens. The facility is also expected to create 6,000 direct jobs initially, with the potential to expand to 15,000 in the future.
Nguyễn Việt Quang, ceo of Vingroup, VinFast’s parent company, calls the opening of the facility a “significant milestone” in the carmaker’s long-term development strategy and global production expansion. It is expected to help the company meet its goal of producing one million vehicles annually.
The Hà Tĩnh plant is the company’s fifth manufacturing facility globally, with plants in development across Vietnam, India, Indonesia, and the US. While two of the plants in Vietnam – VinFast Hải Phòng and VinFast Hà Tĩnh – are operational, the company says its facilities in India and Indonesia are expected to be opened soon. Its project in North Carolina, US, continues to face delays.
In the first quarter of this year, the Vietnamese manufacturer reported a 150% year-on-year increase in revenues to $657 million. It delivered 36,330 EVs during the period, up over 295% y-o-y. Yet the company’s net loss increased by 20% y-o-y to $1.23 billion. As a result, a string of cost optimisation measures is in place, including closing direct-to-consumer stores in Canada, Germany and the Netherlands.
Source:Kallanish
