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Vietnamese electric vehicle manufacturer VinFast is embroiled in a legal dispute with SPG Center LLC, a real estate services firm, over unpaid rent for a store in Palo Alto, California.
According to the complaint filed by SPG Center, VinFast has not paid rent since May 2023, accumulating nearly $356,000 in unpaid dues, which is equivalent to twelve months of rent. The lease for the premises began at the end of March 2023.
VinFast has refuted these claims, stating that the allegations are inaccurate. The company asserts that it has made all monthly rent payments up to and including March 2024.
VinFast clarified that rent payments have been suspended since April 2024 due to ongoing negotiations with the landlord to amend the lease agreement.
SPG Center claimed to have sent VinFast a notice to pay or vacate the premises on April 26, but VinFast did not comply with the notice by the May 1 deadline.
This non-compliance led SPG Center to file the lawsuit on May 14 with the California Superior Court for the county of Santa Clara.
VinFast is also facing other legal challenges in the United States. These include:
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