US President Biden Announced VinFast to Build Electric Vehicle Factory in The US

Specifically, on Twitter, President Biden wrote that: "Today, VinFast announced it will build an electric vehicle and battery manufacturing facility in North Carolina - worth $ 4 billion to create more than 7,000 jobs. It's the latest example of my economic strategy at work".

Also, the announcement was posted on the White House website on the same day. The statement stressed that it built on recent announcements from companies like GM, Ford and Siemens to invest in the US.

President Biden talks about the administration's efforts to build a green energy economy since he took office, including laws and ordinances to facilitate industries of the future like electric vehicles.

"Today’s announcement that the electric vehicle maker VinFast will build an electric vehicle and battery manufacturing facility in North Carolina – $4 billion to create more than 7,000 jobs and hundreds of thousands of electric vehicles and batteries – is the latest example of my economic strategy at work. It builds on recent announcements from companies like GM, Ford, and Siemens to invest in America again and create jobs. Our efforts to build a clean energy economy are driving companies to make more in America rebuild our supply chains here at home, and ultimately bring down costs for the American people.

Since taking office, we have implemented an industrial strategy to revitalize domestic manufacturing with create good-paying American jobs, strengthen American supply chains, and supercharge the industries of the future like electric vehicles – and we see that strategy paying off day after day. Last year, I signed the Bipartisan Infrastructure Law to build out EV charging infrastructure and brought together the United Autoworkers and automakers at the White House to sign an executive order to get 50% electric vehicle sales share in 2030.

Congress has an opportunity with competitiveness legislation like the Bipartisan Innovation Act to double down on the progress we’ve made rebuilding our industrial base to create more good-paying jobs, make more in America – including semiconductors needed by our auto industry – and lower prices for working families", according to the US whitehouse.

VinFast is the first electric car company in Vietnam, run by VinGroup

Previously, Vietnam's first electric car company was mentioned on a series of leading international automotive websites in the US, in the top of major events at this year's CES.

VF e35 at Los Angeles Auto Show 2021 (Source: VinFast)

The Auto Evolution devoted an entire article to analyze "Vietnam's spectacular breakthrough" and did not hesitate to make a forecast that "VinFast could be the next Tesla". According to this article, although the name VinFast is still little known, it will be soon popular all over the world. “The Vietnamese manufacturer has made significant investments and made a big transformation in the auto industry. They (VinFast - NV) just started 5 years ago with an internal combustion engine and are now an all-electric car manufacturer offering 5 product lines. The company has also collaborated with Italian design firm Pininfarina….

Meanwhile, the famous technology magazine Cnet (USA) put VinFast in the top of the most important announcement of CES with information about the VinFast battery factory in the US, besides the names BMW, Chrysler, Chevrolet, etc. Mercedes-Benz... Author Andrew Krok writes: “VinFast is a Vietnamese car manufacturer that wants to join the ranks of global automakers".

During CES, VinFast announced that the company would switch to an all-electric product line starting from the end of 2022.

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