Vietnamese Carmaker To Hire 7,500 People In America After $2 Billion Investment

Industry News / Comments

VinFast wants to build a new car manufacturing plant in North Carolina.

  • VinFast adding 8,000 jobs at its plant in Vietnam
  • It's also building a $2 billion plant in North Carolina
  • The North Carolina plant will eventually employ 7,500 people

Job security is currently in short supply in the American automotive sector. Last month, we learned that Rivian would cut 700 out of 14,000 jobs, while Ford would eliminate 8,000 people to provide more funds to its EV operations. Even the mighty Tesla fired 700 people recently, landing them in court for allegedly not following the correct protocol.

Salvation is coming from the most unlikely of places. According to its Facebook page, Vietnam's VinFast is on an epic hiring spree. It wants to employ an additional 8,000 engineers, technicians, and assembly line workers to join its Vietnamese workforce as soon as possible.

Why should you care? Because VinFast is coming to the USA, and it's bringing loads of job opportunities with it.

VinFast

VinFast's main plant currently has the capacity to build 250,000 cars per year. Production at the Haiphong plant will hit 600,000 units in 2026, which still won't be enough to satisfy worldwide demand.

To secure stock for the US audience, VinFast is also investing $2 billion to build a manufacturing plant in North Carolina. The news about this impressive investment went live earlier this year when VinFast and the government of North Carolina signed a memorandum of understanding.

The North Carolina plant will eventually produce 150,000 vehicles, batteries, and electric buses. Most important of all, it will create 7,500 local jobs.

The first batch of VinFast vehicles will be imported, however. The first US dealership opened its doors recently, and the footprint will expand to 30 dealers by the end of 2022.

VinFast

It is believed VinFast will produce the VF 8 and VF 9 locally. The model selection makes sense considering both compete in segments that will eventually become high-volume here in the States.

The VF 8 is a midsize five-seater, while the VF 9 has seating for eight. The original pricing was set at $41,000 for the VF 8 and $56,000 for the VF 9. Both cars will come with a 10-year/124,000-mile warranty.

VinFast's initial market entry likely won't bother the establishment too much. The Tesla Model Y will remain a top-seller for the time being, and the same rings true for the Tesla Model X.

But neither car has a replacement on the horizon, and VinFast will be making a big entry. Will the considerable investment in the US economy matter to the car-buying public?

We'll have to wait and see.

VinFast

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