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VinFast to Restart US EV Plant Construction as Losses Widen

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By Nguyen Kieu Giang

March 16, 2026 at 11:10 AM UTC

Updated on

March 17, 2026 at 11:36 AM UTC

VinFast Auto Ltd. plans to resume construction at its North Carolina factory this year even as losses in the fourth quarter widened and costs tied to its global expansion continue to rise.

The US factory was put on hold in 2024 after the Vietnamese electric vehicle maker said it would delay construction by three years. VinFast said it now expects to begin operations in 2028. Sales of electric vehicles in North America are forecast to drop 16% this year from 2025, according to BloombergNEF.