On March 29th, 2022, Vietnamese automotive manufacturer VinFast announced that it has selected Chatham County, NC, to build its first manufacturing facility in the US. The company has agreed to purchase land at the Triangle Innovation Point (TIP) megasite in Moncure, to build a manufacturing plant for electric cars. This project will create at least 7,500 jobs over five years and will range from manufacturing operators, engineers, managers, supervisors, and executives.