GE Vernova said it will invest about USD 200 million to expand its Electrification manufacturing capacity by establishing a new facility in Hai Phong, Vietnam. The site will produce large power transformers mainly for high-voltage direct current projects, adding to the company’s existing HVDC transformer manufacturing footprint in the UK and India. GE Vernova said the facility will be developed in phases, with full operations expected in 2028 pending regulatory approvals. The company said the project is expected to create about 450 jobs by 2030. GE Vernova also cited planned investments of USD 11 billion in capex and R&D from 2025 through 2028.

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