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...Source: Transcript: Per InsideEVs, VinFast says it wants to restart construction on its long-delayed electric vehicle factory in North Carolina, after putting the project on hold in 2024 even though the plant was originally supposed to start building VF8 and VF9 electric SUVs in 2024.
This time, the plan is notably smaller. Company officials told state leaders they now expect about 1,400 jobs tied to the site—down about 80% from the 7,500 jobs originally promised when VinFast signed its 2022 deal with North Carolina.
The stakes are high financially. VinFast has been offered about $315 million in state and local incentives spread over 32 years, but it could lose that support if it misses commitments. Bloomberg reports VinFast may have to repay $125 million in site-prep costs if it doesn’t create 3,875 jobs, and the state can potentially buy back part of the roughly 1,765-acre site if milestones aren’t met, including 1,750 jobs by the end of 2026.
VinFast also reported a $3.9 billion net loss for 2025, including a $235.6 million impairment tied to the North Carolina plant.
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