VinFast, a Vietnamese electric vehicle (EV) manufacturer, is delaying the opening of its planned $4 billion factory in North Carolina until 2028 and reducing its delivery projection for this year by 20,000 units due to global EV market uncertainty.

EV vehicle manufacturer, created in 2017 by Vietnam's richest man Pham Nhat Vuong and set to produce entirely electric vehicles in 2022, announced that it would now deliver 80,000 vehicles this year, down from the previously projected 100,000.

In the second quarter, sales at the Vietnamese EV maker increased by 24% to almost 12,000 units, compared to the previous three months. In total, VinFast sold 21,747 units in the first half of 2024, a 92% increase over the same period previous year but roughly one-fourth of the current annual forecast.

"While the second-quarter delivery results were encouraging, ongoing economic headwinds and uncertainties in different macro-economies and (the) global EV landscape necessitate a more prudent outlook for the rest of the year," VinFast said in a statement on Saturday.

The EV manufacturer anticipates substantial sales growth in the second half of the year, owing to a wide product portfolio and expansion in important geographies, including new markets in Asia and existing markets.

VinFast said in a statement that it would postpone the opening of its planned manufacturing in North Carolina until 2028, rather than 2025 as anticipated. Reuters reported a probable delay in May, citing a source familiar with the situation.