VinFast is Building A $4B Auto Plant In Moncure, NC

Get Off My Lawn

Get Off My Lawn

Artist formerly known as Pink Vapor
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Geez Louise! We built our 20 ac, riverfront, forever home in a gated neighborhood 6 years ago in sleepy 'lil Moncure. Its quiet, peaceful, LOW traffic, sitting out at night the stars are bright. By next year if someone sends an errant round over my range, it'll go into the new plant.
Chatham Co is also building a large park next to this facility as well.
www.thedrive.com

VinFast Is Set To Build Its First US Factory in North Carolina

The Vietnamese startup is making big moves to establish a presence in the US market.
www.thedrive.com www.thedrive.com


The timing's interesting, we're getting ready to break ground on a model timber home my wife will be using to sell new homes. Maybe one of the Vinfast execs would like to pay the current crazy real-estate prices. I hate to leave the area.
Heads up neighbors @Cape Fear @Deepriver @Scsmith42
Our 'lil ole Andy Griffeth post office will go by the way as well.
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This plant along with Chatham Park coming to Pittsboro, within 10 years your place will surrounded by subdivisions and strip malls. The only positive side is your property value is about to sky rock and make you a millionaire.
 
jimmyjames8 said:
Still waiting for all those Apple, Google and MS jobs and facilities that NC bent over for.
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Can't fill the open jobs here today. We don't need more.


One of my favorite quotes is from Edward Abbey, when talking about the linkage between the solitude of the desert and people complaining about the lack of water found there.

"The desert has exactly the right amount of water"

(the natural conditions in the desert keeps it from being overrun by people who can't appreciate the natural conditions in the desert)
 
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Average Joe said:
This plant along with Chatham Park coming to Pittsboro, within 10 years your place will surrounded by subdivisions and strip malls. The only positive side is your property value is about to sky rock and make you a millionaire.
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Inflation & the market's nuts. I used to think being a millionaire was amazing. We put less than $400k into the three lots and custom building our home six years ago. We got a drive by appraisal yesterday for a home equity loan before they find out my wife's shuttering her company. They only looked at one of the three lots considering square footage and lot size, not gated riverfront, heavily landscaped, custom home, for triple that amount.
 
Get Off My Lawn said:
Inflation & the market's nuts. I used to think being a millionaire was amazing. We put less than $400k into the three lots and custom building our home six years ago. We got a drive by appraisal yesterday for a home equity loan before they find out my wife's shuttering her company. They only looked at one of the three lots considering square footage and lot size, not gated riverfront, heavily landscaped, custom home, for triple that amount.
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LOL, Harnett county just reassessed property. Our place cost $400,000 to build on 6 ac 7 years ago is now $750,000. I am sure the house that sold across the road for $1.8 mil helped up the price.
 
Yuck. So what's up with the post office?
 
Average Joe said:
This plant along with Chatham Park coming to Pittsboro, within 10 years your place will surrounded by subdivisions and strip malls. The only positive side is your property value is about to sky rock and make you a millionaire.
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Maybe I'll be able to sell out for big $$ and move someplace that is inhabited mainly by mosquitos and water moccasins. Someplace no one else will live! Quicksand would be cool...
 
Cape Fear said:
Maybe I'll be able to sell out for big $$ and move someplace that is inhabited mainly by mosquitos and water moccasins. Someplace no one else will live! Quicksand would be cool...
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We've been looking for property for a while and this has been our hang up. Find a nice parcel today, make the needed adjustments to make the move, get it how we want it and there's always a risk that something like this will happen. Go from what folks like us would call a backwoods paradise to subdivisions popping up everywhere and strip malls down the rd.

Thousands of abandoned factories, mills, and other commercial property in NC and they darn near always bulldoze the woods to build something new. Burns me up.
 
Cape Fear said:
Yuck. So what's up with the post office?
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The plant is supposedly going to have 7,500 employees. There's no way that post office will be able to handle the load. I grabbed the pic because it was one of the 1st pics that showed up in a Moncure search.


This investment looks a bit shaky, they lasted 2 years and lost $1B the second year, then quit. "VinFast launched its first line of vehicles — gasoline-powered cars with BMW-licensed engines — in 2019. So far, the company has only operated in Vietnam. ~ After a poor sales year, VinFast said in January it would cease production of gas-powered autos by the end of 2022, prioritizing a new line of electric SUVs. The company reportedly lost more than $1 billion on its gasoline vehicles in 2021, according to Nikkei Asia."
"VinFast plans to build 200,000 or more vehicles a year at the plant"
"Gov. Roy Cooper said Tuesday. “But that is just the start as we anticipate this facility will draw vendors and suppliers from far and wide.”
 
...and I don’t think this is even the same six billion dollar NC project in the greater triangle area getting ready to be announced, or maybe it is.
 
Get Off My Lawn said:
This investment looks a bit shaky, they lasted 2 years and lost $1B the second year, then quit. "VinFast launched its first line of vehicles — gasoline-powered cars with BMW-licensed engines — in 2019. So far, the company has only operated in Vietnam. ~ After a poor sales year, VinFast said in January it would cease production of gas-powered autos by the end of 2022, prioritizing a new line of electric SUVs. The company reportedly lost more than $1 billion on its gasoline vehicles in 2021, according to Nikkei Asia."
"VinFast plans to build 200,000 or more vehicles a year at the plant"
"Gov. Roy Cooper said Tuesday. “But that is just the start as we anticipate this facility will draw vendors and suppliers from far and wide.”
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LOL with that little nugget this sounds more like a money laundering pipe dream than a real thing. Maybe it will fall apart. They still haven't broken ground on the Murugan temple.
 
Cape Fear said:
LOL with that little nugget this sounds more like a money laundering pipe dream than a real thing. Maybe it will fall apart. They still haven't broken ground on the Murugan temple.
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I noticed on the way home from work yesterday they started clear cutting on Pea Ridge
 
JohnFreeman said:
Can't fill the open jobs here today. We don't need more.


One of my favorite quotes is from Edward Abbey, when talking about the linkage between the solitude of the desert and people complaining about the lack of water found there.

"The desert has exactly the right amount of water"

(the natural conditions in the desert keeps it from being overrun by people who can't appreciate the natural conditions in the desert)
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I doubt locals are being targeted for these jobs. I can’t imagine there is a lot of untapped auto manufacturing experience waiting to be hired here.
 
We live off NC42 between Broadway and Corinth.... Christian Chapel Church Rd, Pea Ridge Rd, Old US 1 are out travel routes to and from Raleigh.

Have a little under 20Ac....our tax value has steadily increased over the last several years. I have no doubt that the area is going to see significant growth in the next few years.

People are priced out of Wake County and spreading out.

Lee County approved something like 1200 housing units along 421 between Lower Moncure and Colon Rd.

I'm just waiting for someone to show up and offer us for our property.
 
You could always get some smelly cows that might discourage new property purchases.

Or put up or shut up - buy the property before someone else does. I'm thinking I may try this if / when we have the inevitable market correction.
 
Get Off My Lawn said:
"Gov. Roy Cooper said Tuesday. “But that is just the start as we anticipate this facility will draw vendors and suppliers from far and wide.”
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Man, we have heard that so many times. Global Transpark. Google. Apple. Many others….
 
NCMedic said:
We live off NC42 between Broadway and Corinth.... Christian Chapel Church Rd, Pea Ridge Rd, Old US 1 are out travel routes to and from Raleigh.

Have a little under 20Ac....our tax value has steadily increased over the last several years. I have no doubt that the area is going to see significant growth in the next few years.

People are priced out of Wake County and spreading out.

Lee County approved something like 1200 housing units along 421 between Lower Moncure and Colon Rd.

I'm just waiting for someone to show up and offer us for our property.
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It will not be long before they do. When looking at the municipalities around Wake County, southwest into Chatham is the developers' easiest route. West will be the Corps of Engineers (Jordan Lake) and Chatham Park. North and northwest you have Cary, Morrisville, Durham. Raleigh of course, then east and southeast is Garner, Holly Springs, Fuquay Varina, and Apex. I do feel bad for the people in the Moncure area. For years it has been a hidden little gem that is about to explode.
 
Average Joe said:
It will not be long before they do. When looking at the municipalities around Wake County, southwest into Chatham is the developers' easiest route. West will be the Corps of Engineers (Jordan Lake) and Chatham Park. North and northwest you have Cary, Morrisville, Durham. Raleigh of course, then east and southeast is Garner, Holly Springs, Fuquay Varina, and Apex. I do feel bad for the people in the Moncure area. For years it has been a hidden little gem that is about to explode.
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I agree. Lee County will soon look like the next Fuquay Varina, except on a county level.
We have a 126ac lot next to us with a vacant house that the son is holding on to for sentimental reasons. At some point he's going to get a offer he can't refuse. The other side of us, our neighbor who died a few months ago... that's about 10ac to be determined what his family will do with. The remainder is farm land. At some point it will be more lucrative to sell, or the farmers will die off and families will sell.

Houses in the area are still reasonable, in the sense of the word, compared to Wake, Durham, or Johnston. Especially for people coming from the West Coast or North. You sell your 500-850K house and look here... you may as well buy two for the price difference.
 
I am not a visionary, but I have serious doubts about the success of this plant.


Not once have I heard "You know what I want? A Vietnamese Tesla knock off, with no brand history or service centers in my country, that costs over $40,000".



I've also never heard anyone say they want a Tesla, so what do I know?
 
Me. said:
I am not a visionary, but I have serious doubts about the success of this plant.


Not once have I heard "You know what I want? A Vietnamese Tesla knock off, with no brand history or service centers in my country, that costs over $40,000".



I've also never heard anyone say they want a Tesla, so what do I know?
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LOL, I can remember saying that about Hyundai back in 1986....That didn't age well.

They may or may not make it. Only time will tell. But growth in the area is a given now. With a lot of jobs being able to be done over the internet, most of the "backwoods" places aren't anymore.

Best you can do is buy enough land to have an island in the middle of it
 
Unless they have a battery plant somewhere else, there is no way I believe they are going to build that many cars a year. The current EV manufacturers cannot procure batteries or chips in the quantities they need.
 
If you do think you might want one, a $200 refundable deposit will get you a $3k or $5k voucher depending on the model. That is a solid use of $200 in my view.
 
Ferrisfan said:
Unless they have a battery plant somewhere else, there is no way I believe they are going to build that many cars a year. The current EV manufacturers cannot procure batteries or chips in the quantities they need.
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From the news piece:
The plant is slated to be capable of putting out 150,000 vehicles per year when production starts in July 2024. The plant will also be host to a battery manufacturing plant.

So this is not going to happen overnight even if they start today. I guess by then some of the production crap will have worked out.
 
mj1angier said:
LOL, I can remember saying that about Hyundai back in 1986....That didn't age well.
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My last three vehicles have been Hyundais. Made in the US.

Insanely reliable cars (as so many are these days).


But in the journey to where they are now, they were almost run out the country on their garbage vehicles and poor quality.


You make a good point.

Ferrisfan said:
Unless they have a battery plant somewhere else
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This is a battery plant. ( EDIT: @mj1angier beat me to it )

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Fun fact... if you look past the plant you are looking at Woody's gun range a little off in the distance! :D


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It will be intresting to see where toyotas new battery plant south of greensboro and this one are going get all the workers to fill them since places are hard pressed to find engineering staff and workers now.
 
Maybe a state doesn't want to try out new "grandfather laws" . Especially a southern state. You know..... history.
 
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The company is majority owned by the ruling communist party. Guarantee the working conditions will be terrible. They will prey on the desperate.
Management will be almost entirely communist part favored people sent from Vietnam as a temporary reward. China does this with Huawei offices in the US and a round the world. I, personally, would never buy one of those commie cars.
 
Me. said:
My last three vehicles have been Hyundais. Made in the US.

Insanely reliable cars (as so many are these days).


But in the journey to where they are now, they were almost run out the country on their garbage vehicles and poor quality.


You make a good point.


This is a battery plant. ( EDIT: @mj1angier beat me to it )

View attachment 456889

Fun fact... if you look past the plant you are looking at Woody's gun range a little off in the distance! :D


View attachment 456890
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I thought that it was below Old US1, not above it....
 
Ferrisfan said:
If you do think you might want one, a $200 refundable deposit will get you a $3k or $5k voucher depending on the model. That is a solid use of $200 in my view.
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Will they give you a cool tshirt with the deposit?

Ferrisfan said:
I doubt locals are being targeted for these jobs. I can’t imagine there is a lot of untapped auto manufacturing experience waiting to be hired here.
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Of couse not, they will import their labor and bring in outsiders for the high level executive jobs (west coast/NE folks).
 
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