VinFast Sued Over Unpaid Rent in California

31 views
VinFast is involved in a legal battle with SPG Centre LLC over unpaid rent for a store in Palo Alto, California.
VinFast is involved in a legal battle with SPG Centre LLC over unpaid rent for a store in Palo Alto, California.

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 Response to the Allegations:

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.

Legal Actions and Notices:

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.

Additional Legal Challenges:

VinFast is also facing other legal challenges in the United States. These include:

  1. Investigation into a Fatal Crash: The company is under investigation for an April crash in California involving a VinFast VF8 car, which resulted in the deaths of four individuals.
  2. Patent Violation Probe: VinFast is accused of violating ArcelorMittal’s patents on the aluminum used in the VF8 model.
  3. Class Action Lawsuit: Two law firms have filed a class action lawsuit against VinFast on behalf of shareholders, alleging that the company’s misleading statements caused them financial harm.

James Adam

James Adam, a noted business writer for CEO Times Magazine, specializes in insightful industry analysis and executive profiles. Known for his clear, concise style, James offers readers an expert perspective on global business trends and market dynamics.

Previous Story

Nvidia Earnings Report: Anticipated Volatility and Market Impact

Next Story

Sanofi Partners with OpenAI and Formation Bio for Drug Development

Latest from Business