VinFast footprint will be smaller than originally planned

Name: VinFast footprint will be smaller than originally planned
Uploaded: 2024-04-17T21:30:53.000Z
Duration: 2 min 24 s
Description: The revised plans reduce the footprint of the factory's general assembly building to 782,255 square feet. That's roughly a 20% reduction from the original plans for a 995,500-square-foot building.

The revised plans reduce the footprint of the factory's general assembly building to 782,255 square feet. That's roughly a 20% reduction from the original plans for a 995,500-square-foot building.

Posted 4/17/2024, 9:30:53 PM Updated 4/18/2024, 12:58:09 PM

IF YOU HAVE TO TRAVEL OUT

THERE. ALL RIGHT. THANK YOU,

BRETT.

>> ONE OF THE BIGGEST BUSINESS

DEVELOPMENTS IN NORTH CAROLINA.

HISTORY HAS HIT A SPEED BUMP

ELECTRIC VEHICLE MANUFACTURER

VINFAST IS SCALING DOWN ITS

PROJECT IN CHATHAM COUNTY.

THIS IS THE FUTURE SITE OF

INFEST MULTI-BILLION DOLLAR

FACILITY.

>> YOU CAN SEE FROM 2022.

24, NOT MUCH HAS CHANGED.

SHAUN GALLAGHER REPORTS FROM

CHATHAM COUNTY

>> AND ECONOMIC EXPERT I TALKED

TO WOULDN'T GO AS FAR AS TO SAY

HE WAS WORRIED, BUT EXACTLY

WHAT YOU SEE HERE BEHIND ME IS

ABOUT THE EXTENT OF THE

CONSTRUCTION ON THE PLANT HERE

IN CHATHAM COUNTY. A LOT OF

SPACE BEING CLEARED, BUT

NOTHING TO SHOW FOR IT. AND

AFTER ABOUT A YEAR AND A HALF,

VINFAST IS NOT LIVING UP TO

ITS NAME.

>> NOT MUCH HAS CHANGED SINCE

VINFAST GROUNDBREAKING IN 2023.

A LOT OF ACTIVITY ON THE SITE

BUT NOT A LOT TO SHOW FOR IT.

THE VIEW FROM UP ABOVE SHOWS A

GIANT SPACE CLEARED IN THE SEA

OF TREES HERE IN MONKEY.

YOUR BUT IT LOOKS ALMOST

IDENTICAL TO WHAT IT LOOKS LIKE

HERE LAST JULY AND NOW CHATHAM

COUNTY CONFIRMS WITH WRAL

FANFEST REQUESTED TO SHRINK

ITS FOOTPRINT BY ABOUT 20%.

HERE'S WHAT THE ORIGINAL

BLUEPRINT LOOKED LIKE FROM JULY

OF 2023, A MASSIVE PRODUCTION

SITE NEARLY A MILLION SQUARE

FEET IN SIZE. BUT REVISIONS IN

FEBRUARY CHANGE THE LAYOUT OF

THE MAIN PLANT AND DROP THE

SIZE TO 782,000 SQUARE FEET ON

EARNINGS CALL WEDNESDAY.

VINFAST SAYS IT'S STILL ON

TRACK TO START OPERATIONS AND

HIRE A LOT OF WORKERS BY THE

END OF NEXT YEAR, FAR FROM THE

ORIGINAL GOAL OF PRODUCTION

STARTING THIS JUNE. I DON'T

THINK THAT THIS IS A DOOMSDAY

MESSAGE FROM NDS. I DO THINK IT

STILL HAS A FUTURE HERE, BUT

MAYBE NOT AS BIG A FUTURE AS IT

HAS WON IT.

>> NC STATE ECONOMICS PROFESSOR

MIKE WALDEN FEELS THIS ISN'T

REPRESENTATIVE OF THE COMPANY

FAILING. HE SAYS THE ENTIRE

ELECTRIC VEHICLE MARKET IS

TAKING A HIT RIGHT NOW SINCE

AUGUST VINFAST STOCK HAS

TUMBLED FROM A HIGH OF $93 TO

BELOW $3 WALDEN FEELS VINFAST

CAN BE SUCCESSFUL IN THE STATE

ALSO ALONG THE ROAD. BUT

NOTHING I DON'T THINK I DON'T

SEE US GO OUT FALLING OVER THE

CLIFF. I DON'T SEE THE INDUSTRY

FALLING OVER THE CLUB.

>> AND SO FAR IT DOESN'T APPEAR

THE COUNTY'S WORRIED ABOUT THIS

EITHER. NO ONE WAS AVAILABLE

FOR AN INTERVIEW TODAY. THEY

SAY THEY HAVE NOT BEEN MADE

AWARE BY VINFAST THAT THEY

WON'T OWN UP TO THEIR 4 BILLION

DOLLAR INVESTMENT HERE.

>> AND THAT THEY EXPECT THEM

TO MEET THEIR JOBS GOAL AS