Incentives package worth $1.2 billion draws electric car plant to NC
A Vietnamese automaker has announced plans to build a $4 billion electric-vehicle assembly and battery-manufacturing plant at Triangle Innovation Point in Moncure, about 30 miles west of the Triangle. To attract the newly formed company, the state and Chatham County promise to spend nearly $1.2 billion in incentives over the next 32 years. Meantime, VinFast is working to secure $1 billion in investment money to build the plant.