Raleigh, NC – The North Carolina Railroad Company (NCRR) is one of several partners named in the recent announcement that Vietnam-based VinFast, a private automotive manufacturer, will construct its first U.S. based electric vehicle (EV) assembly and battery manufacturing facility at the Triangle Innovation Point (TIP) site in Chatham County, N.C. In total, VinFast will bring an investment over $4 Billion and 7,500 new jobs to the area.
VinFast announced the location of its U.S. headquarters in the Playa Vista area of Los Angeles, CA in 2021, and will now construct its first U.S. manufacturing campus. This is the first EV assembly location to announce in North Carolina, and as such, will lead to transformative economic growth in the local community and across the state.
VinFast is the second EV manufacturer to construct a campus in North Carolina in partnership with state and local leaders, including NCRR. NCRR and its collaborators at the Greensboro-Randolph Megasite helped attract the state’s first automotive battery plant, Toyota Battery Manufacturing, in December 2021.
VinFast requires significant freight rail infrastructure for CSX or Norfolk Southern to serve the new facility. Through NCRR’s economic development initiative NCRR Invests, NCRR is investing approximately $1 million to assist with the construction of a new auto ramp to benefit the company, increasing freight rail activity in the state by at least 5,000 additional rail cars each year.
“NCRR is thrilled to share in this opportunity to contribute to an effort including Chatham County, the City of Sanford, the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina and many others who made this investment in North Carolina a reality,” said Carl Warren, NCRR President and CEO. “We are pleased to play a small part in anchoring additional players in the EV manufacturing space in our state. Doing these things helps to act as a catalyst for anchoring the industries of the future in North Carolina.
Additional project partners include the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Departments of Transportation and Environmental Quality, the North Carolina State Ports Authority, the GoldenLEAF Foundation, the Triangle J Council of Governments, Duke Energy, Dominion Energy, CSX Transportation, Norfolk Southern, and the Chatham County Economic Development Corporation.
About the North Carolina Railroad Company
The North Carolina Railroad Company is a private corporation whose voting stock is owned by the State of North Carolina. The Company manages the use of 317 miles of track and property stretching from Charlotte to the Port of Morehead City. The Company’s mission is to benefit the people of North Carolina by aggressively leveraging the unique strengths and capabilities of the North Carolina Railroad Company. Our vision is a modernized railroad that meets the needs of the future, expanding North Carolina’s competitive advantage.
About NCRR Invests
NCRR Invests provides assistance to companies that take advantage of the state’s freight rail opportunities and create jobs by locating or expanding their business in North Carolina. The goal of any NCRR investment is to drive job creation and economic growth.