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Published 10 days ago • loading... • Updated 8 days ago
North Carolina Sues Vietnam's VinFast over Delayed EV Project
The state says VinFast missed construction and hiring deadlines and is seeking to reclaim the site and recover about $80 million in site-prep funds.
On Thursday, Attorney General Jeff Jackson announced that North Carolina is suing VinFast, alleging the company breached agreements to build an electric vehicle factory in Chatham County.
In 2022, North Carolina awarded a grant for a facility promising 7,500 jobs and a $3 billion investment, but VinFast's latest blueprint calls for about 1,400 workers, an 80% reduction from original projections.
VinFast has abandoned work on the 712-hectare site for over a year, missing its July 2026 operational deadline and pushing the expected opening to at least 2028.
Governor Josh Stein said the action aims at "protecting taxpayers and getting the Chatham County megasite back on the market," while VinFast stated construction contracts are signed and work will commence shortly.
Amid financial struggles, VinFast announced last week it will sell two Vietnamese factories to reduce roughly $6.9 billion in debt, as North Carolina seeks $80 million in site preparation reimbursement.