VinFast Risks North Carolina Clawback of US EV Plant Incentives

Pressure is mounting on VinFast Auto Ltd. after two US officials reminded the Vietnamese EV maker of its obligations under a four-year-old deal to build a mammoth plant in North Carolina.

The automaker earlier this week announced plans to resume construction of a Chatham County factory following a two-year delay, but its latest blueprint calls for about 1,400 workers, around 80% fewer than originally promised, said Michael Smith, president of the Chatham County Economic Development Corporation. That jeopardizes hundreds of millions of dollars in incentives offered by the state and local government.