Vietnam’s VinFast Aims to Qualify for Biden’s EV Tax Credits

VinFast Auto Ltd. is working to qualify its cars for US tax credits when its North Carolina plant starts production in 2025, Chairwoman Le Thi Thu Thuy said.

That means the Vietnamese electric-vehicle manufacturer — which has no US production currently — will need not only to get its plant up and running on time, but also establish a supply chain by then that meets sourcing requirements set by the Inflation Reduction Act, US President Joe Biden’s landmark climate bill.

VinFast Chairwoman Le Thi Thu Thuy.

Photographer: Ore Huiying/Bloomberg

It’s no small task, considering the challenges established automakers are having meeting stricter standards for battery-component sourcing.

“That’s ...