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On February 28, Ha Tinh Economic Zones Management Board granted approval for the project, to be located in the Vung Ang Economic Zone. The facility carries an investment of VND13.25 trillion (approximately $506 million).
Covering an area of 64 hectares, the factory will specialise in producing e-scooters and e-bikes. The company will also build workshops and auxiliary facilities serving EV production.
The development will proceed in two phases. The initial phase, scheduled for completion in 2026, will bring capacity to one million EVs per year. A second phase, set to begin in late 2026, will expand production to two million vehicles annually. VinFast expects to complete procedures and begin construction in the first quarter of 2026, with mass production targeted for the second quarter.
VinFast posted record-breaking e-scooter sales in 2025, marking a 473 per cent increase compared to 2024. The company delivered 406,453 e-scooters to the Vietnamese market last year, securing the number-one market share position in the e-scooter segment nationwide.
To meet increasingly diverse customer demands, VinFast launched four new e-scooter models at the beginning of 2026, including three battery-swapping models, Evo, Feliz II, and Viper, as well as the Amio, a pedal-assisted model designed for students. Supporting this expansion, 4,500 battery-swapping stations have been installed, with plans to complete 45,000 battery cabinets in the first quarter of 2026 to ensure comprehensive customer service coverage.
On February 27, Ha Tinh Economic Zones Management Board also granted approval for the Vinmetal Ha Tinh steel plant to Vinmetal Production and Trading JSC, a subsidiary of Vingroup.
With an investment of nearly VND80 trillion (approximately $3 billion), the venture will cover more than 460ha in Vung Ang Economic Zone. In its first phase, it will have an annual capacity of five million tonnes, producing hot-rolled coil, high-strength steel, and speciality alloy steel. These products will support electric vehicle manufacturing, high-speed transport infrastructure, and civil construction demand.
