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Released August 02, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--In late July, Vietnamese automaker VinFast held a groundbreaking ceremony for a $2 billion electric vehicle (EV) and battery manufacturing plant in Moncure, North Carolina. North Carolina and its southern neighbor, South Carolina, account for $11 billion worth of EV-related projects being tracked by Industrial Info.
Among others, North Carolina Governor Roy Cooper (D) and the Vietnamese ambassador to the U.S., Nguyen Ouoc Dzung, attended the event.
The Moncure project represents the first phase of a $4 billion, two-phase investment, and "future expansion and updates for the factory will be identified in the next phase," according to a Vinfast press release.
Phase 1 is expected to begin production in 2025 and entails constructing five main production areas--a body shop, general assembly, press shop, paint shop and an energy center, among other functionalities. Sitting on about 1,800 acres in Chatham County, the initial plant has an expected production capacity of 150,000 EVs per year. Clayco Construction (Chicago, Illinois) is serving as the general contractor and construction manager for the project and will begin the bidding process to select subcontractors soon, Vinfast said. The proposed $2 billion EV and battery-manufacturing expansion is in early-stage development, with the project initially expected to kick off in late 2024.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed reports on the manufacturing plant and expansion projects.
Another project under construction in North Carolina also is the first phase of a two-phase project, from a major automaker: Toyota Motor Corporation's (NYSE:TM) (Toyota City, Japan) $1.29 billion EV battery plant in Liberty, for its hybrid and fully electric vehicles. Upon completion, which is expected in 2025, the nearly 490,000-square-foot facility would feature six production lines, including four supporting battery production for hybrid electric vehicles and two for battery electric vehicles. The proposed $2.5 billion expansion would ramp up production of EV batteries. Subscribers to Industrial Info's Industrial Manufacturing Project Database can read more information on the initial battery plant and expansion.
Meanwhile, under construction in South Carolina is Envision-AESC LLC's (Smyrna, Tennessee) $810 million grassroot EV battery plant in Florence, which kicked off in June. The 1.5 million-square-foot facility would manufacture 30 gigawatt-hours of batteries per year. Upon completion, which is expected in 2026, the facility will provide batteries to BMW's (Munich, Germany) plant in Greer, South Carolina, which is about 175 miles away. Subscribers can click here for more details.
According to the Southern Alliance for Clean Energy, North Carolina accounted for 55,669 cumulative EV sales in 2022 (passenger EVs including both battery and plug-in hybrid vehicles), and South Carolina was home to more than 16,000 sales.
The Biden administration aims to boost domestic EV battery production, in part by providing loans to related projects. For more information, see Industrial Info's June 12, 2023, article - Biden Administration Hands Out Another Loan to Support Domestic EV Battery Production.
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Among others, North Carolina Governor Roy Cooper (D) and the Vietnamese ambassador to the U.S., Nguyen Ouoc Dzung, attended the event.
The Moncure project represents the first phase of a $4 billion, two-phase investment, and "future expansion and updates for the factory will be identified in the next phase," according to a Vinfast press release.
Phase 1 is expected to begin production in 2025 and entails constructing five main production areas--a body shop, general assembly, press shop, paint shop and an energy center, among other functionalities. Sitting on about 1,800 acres in Chatham County, the initial plant has an expected production capacity of 150,000 EVs per year. Clayco Construction (Chicago, Illinois) is serving as the general contractor and construction manager for the project and will begin the bidding process to select subcontractors soon, Vinfast said. The proposed $2 billion EV and battery-manufacturing expansion is in early-stage development, with the project initially expected to kick off in late 2024.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read detailed reports on the manufacturing plant and expansion projects.
Another project under construction in North Carolina also is the first phase of a two-phase project, from a major automaker: Toyota Motor Corporation's (NYSE:TM) (Toyota City, Japan) $1.29 billion EV battery plant in Liberty, for its hybrid and fully electric vehicles. Upon completion, which is expected in 2025, the nearly 490,000-square-foot facility would feature six production lines, including four supporting battery production for hybrid electric vehicles and two for battery electric vehicles. The proposed $2.5 billion expansion would ramp up production of EV batteries. Subscribers to Industrial Info's Industrial Manufacturing Project Database can read more information on the initial battery plant and expansion.
Meanwhile, under construction in South Carolina is Envision-AESC LLC's (Smyrna, Tennessee) $810 million grassroot EV battery plant in Florence, which kicked off in June. The 1.5 million-square-foot facility would manufacture 30 gigawatt-hours of batteries per year. Upon completion, which is expected in 2026, the facility will provide batteries to BMW's (Munich, Germany) plant in Greer, South Carolina, which is about 175 miles away. Subscribers can click here for more details.
According to the Southern Alliance for Clean Energy, North Carolina accounted for 55,669 cumulative EV sales in 2022 (passenger EVs including both battery and plug-in hybrid vehicles), and South Carolina was home to more than 16,000 sales.
The Biden administration aims to boost domestic EV battery production, in part by providing loans to related projects. For more information, see Industrial Info's June 12, 2023, article - Biden Administration Hands Out Another Loan to Support Domestic EV Battery Production.
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
