State Seeks to Reclaim Site
The state notified VinFast of default in January and expressed intent to acquire the site. VinFast protested, claiming it met construction deadlines and would open in 2028.
However, the lawsuit aims to take control of the property so it can be used by another company that will build a facility and create jobs.
In a statement, Attorney General Jackson said, “VinFast agreed to build a factory and create jobs for North Carolinians – it didn’t do either.
When North Carolina makes a deal, we build in protection for taxpayers.
VinFast broke the deal, so we’re using that protection to find a project for this site that will create jobs.”
VinFast has reportedly blamed the elimination of the clean vehicle tax credit for the delays.
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According to Bloomberg, the company said recent US policy changes have impacted the project timeline and require additional time to evaluate implementation conditions.
