Samsung Electronics Shares Jump on HBM4 Mass Production Report 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
VinFast, a Vietnamese electric vehicle manufacturer, finally started the construction of its manufacturing plant in the United States following the groundbreaking ceremony that was held on Friday, July 28, in North Carolina.
The EV maker said the plant is being built on a 1,800-acre facility, and phase 1 was designed to make up to 150,000 vehicles per year. Originally, VinFast set the opening of the factory in 2024, but it was moved to 2025; thus, the start of construction was also postponed. In March, the company shared that the holdup was due to procedural delay, explaining that they “need more time to complete administrative procedures.”
In any case, according to CNBC, the state of North Carolina granted a $1.2 billion incentive to the Vietnam-based company for the factory. The facility will also mark VinFast’s arrival in the American EV market, and this means it will soon be competing with dominant players in the industry, such as Tesla and BYD.
At the groundbreaking ceremony, Governor Roy Cooper was present along with other state officials and executives of VinFast. This is a remarkable project as it will also create about 7,500 jobs for the locals and help boost the territory’s economy. ABC11 News reported that NC’s Chatham County was chosen out of 29 locations being considered for the project.
“Today's event marks a new milestone for VinFast, affirming our commitment to the North American market,” VinFast’s chief executive officer, Madam Le Thi Thu Thuy, said in a press release. “Not only will this project create thousands of jobs and contribute to North Carolina’s economic development, but VinFast’s electric vehicles produced here will also bring additional economic benefits to consumers. We also look forward to contributing to the development of the North Carolina community – our second home – during the production and business operation here.”
Photo by: Vinfast Press Release
