VINFAST ANNOUNCES PLANS TO DONATE LAND TO SAVE THE MERRY OAKS BAPTIST CHURCH IN CHATHAM COUNTY

MONCURE, N.C., July 25, 2023 /PRNewswire/ -- VinFast today announced its intention to donate up to three acres of property on the VinFast project site to the Merry Oaks Baptist Church to help them save the church from demolition. The company will also assist Merry Oaks in identifying other resources to support the relocation.

VinFast has presented an MOU to the members of the Merry Oaks Baptist Church, which outlines VinFast's plan to donate up to three acres of private land on Christian Chapel Church Road on the VinFast site in Moncure, NC for the specific purpose of relocating the church to a new permanent home.  

Merry Oaks Baptist Church was built in 1888 and has been a cultural destination for many generations in Moncure. At present, the North Carolina Department of Transportation is planning to demolish the current site of the Merry Oaks Baptist Church, including the steeple, which has stood for over 130 years, to implement a long-planned transportation improvement upgrade for Chatham County.

VinFast's land donation will help relocate the church and allow the congregation to remain in the community.

Merry Oaks Member, Jerry Holdenalso shared: "We greatly appreciate that VinFast has made a generous offer to provide a new home for the Merry Oaks Baptist Church so the congregation can remain in the community we've called home for over 130 years."

Ms. Van Anh Nguyen, VinFast US Manufacturing CEO said: "VinFast cares deeply about our new home and does not want to see the Merry Oaks congregation displaced. In addition to donating the land, VinFast is willing to work with our partners to identify other resources to help support the relocation of the church. Our hope is that Merry Oaks Baptist Church and its congregation can remain in the community."

The members of Merry Oaks Baptist Church are still deciding whether they would like to relocate the church, but it is VinFast's intention to provide a solution that could potentially keep the church and its congregation in the area.

About VinFast

VinFast - a member of Vingroup – envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.us/.

VinFast Safe Harbor Disclosure

This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include VinFast's expectations. Forward-looking statements typically can be identified by the use of words such as "will," "expect," "believe," and similar terms. While these forward-looking statements represent VinFast's current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ materially from those contemplated above include, but are not limited to, general economic conditions, hazards customary in the automotive industry, competition in certain markets, the volatility of battery prices, failure of customers to perform under contracts, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our electric vehicle projects. VinFast undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause VinFast's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect VinFast's future results.

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SOURCE VinFast