VinFast Company said that the price of its VF8 sport utility vehicle in the USA will be 41 thousand dollars.

The Vietnamese company VinFast has signed an agreement on the construction of an automobile plant in the state of North Carolina.

The plant plans to produce electric buses and SUVs, as well as batteries for them.

The initial investment will amount to $ 2 billion; the entire project is estimated at $ 4 billion. VinFast is a division of the largest Vietnamese corporation Vingroup, this will be its first plant in the United States.

Construction is scheduled to begin this year and be completed in July 2024. At the first stage, the plant will be able to produce 150 thousand cars annually. The company has already started accepting pre-orders for SUVs, planning to deliver them to customers in the fourth quarter of 2024.

VinFast Company said that the price of its VF8 sport utility vehicle in the USA will be 41 thousand dollars, Tesla sells a similar car for about 63 thousand dollars.

President Joe Biden said that VinFast’s investments, which will create more than 7 thousand jobs, are “the latest example of the implementation of my economic strategy.” Earlier, Biden set an ambitious goal that by 2030 electric cars would make up half of the cars sold in the United States.