VinFast delays opening of its US EV plant to 2028

Vietnamese electric vehicle (EV) maker VinFast has delayed the opening of its North Carolina factory until 2028. The news was buried in a 12 July 2024 press release detailing the OEM’s Q2 financial results for the year. The company blames “economic headwinds” and growing uncertainty in “the global EV landscape” for the postponement. This is a significant reversal of the automaker’s more optimistic outlook in 2022, when the factory was announced. It also marks the second delay: initially slated to open in July 2024, the factory was pushed back to 2025 last year.