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Ev Plant

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automotive1 year ago•2 min saved

VinFast Delays NC EV Plant to 2028, Cuts Sales Target by 20%

VinFast has delayed the production of its Chatham County electric vehicle plant to 2028, citing the need to optimize capital allocation and manage short-term spending. Despite the delay, the company remains committed to its growth strategy and anticipates strong sales growth in the latter half of the year. The plant, initially set to open this summer, has seen multiple revisions and delays since its groundbreaking in 2023. VinFast's arrival was initially celebrated for its promise to bring significant investment and jobs to the region.

via WTVD-TV|

#automotive #chatham-county #ev-plant

businesstechnology1 year ago•2 min saved

BYD Explores Mexico EV Plant for U.S. Market Entry

Chinese automaker BYD is considering establishing an electric vehicle (EV) plant in Mexico to serve as an export hub to the US, with the company conducting a feasibility study and engaging in discussions with government officials about potential locations. This move aligns with BYD's global expansion strategy, as it aims to capitalize on Mexico's proximity to the US market and leverage the benefits of the US-Mexico-Canada agreement. Additionally, BYD has been rapidly expanding its overseas presence, with recent developments including manufacturing bases in Thailand, Uzbekistan, Brazil, and Hungary.

via CnEVPost|

#businesstechnology #byd #electric-vehicles

business2 years ago•0 min saved

VinFast Announces $2 Billion Investment in India for EV Manufacturing

Vietnamese automaker VinFast plans to invest $2 billion in building an electric vehicle (EV) plant in Tamil Nadu, India. The plant is expected to have an annual capacity of 150,000 vehicles and will create thousands of jobs in the region. This move marks VinFast's entry into the Indian market as it aims to capitalize on the growing demand for electric vehicles in the country.

via Financial Times|

#business #ev-plant #india

electric-vehicles2 years ago•3 min saved

Rivian's Georgia Land Deal Paves the Way for New EV Plant and R2 Electric Vehicles

Rivian has secured a 50-year lease agreement for 1,800 acres in Georgia to build its new $5 billion EV plant, where the company's next-gen R2 electric vehicles will be manufactured. The facility is expected to create 7,500 jobs and begin production in 2026. Despite facing legal battles over its incentive package, Rivian plans to start construction soon, with a groundbreaking ceremony scheduled for early 2024. The plant will have the capacity to produce 400,000 EVs annually, significantly higher than its Illinois facility.

via Electrek.co|

#construction #electric-vehicles #ev-plant