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Reason
Reason
Joe Lancaster

North Carolina's Bad Billion-Dollar Bet on a Struggling E.V. Company

VinFast North Carolina electric vehicle Vietnam

In what is becoming an all too familiar trend, an upstart electric vehicle (E.V.) manufacturer is struggling to get its products to market despite considerable support from taxpayers.

An article in The Wall Street Journal by Jon Emont and Dave Sebastian details "North Carolina's billion-dollar bet on an EV outsider." The outsider in question is VinFast, a Vietnamese electric vehicle company that received incentives totaling $1.2 billion to build its planned $4 billion factory in the Tar Heel State, in a deal announced last year.

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