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VinFast sued within the US for not paying lease for showroom By Reuters

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HANOI (Reuters) – Vietnam’s electrical automobile maker VinFast (NASDAQ:) is being sued in a California court docket for not having paid lease for a retailer, in response to a grievance filed by actual property providers agency SPG Middle LLC, which VinFast mentioned was inaccurate.

SPG Middle mentioned VinFast had rented the premises in a purchasing centre in Palo Alto from the top of March 2023, however had stopped paying since Could 2023 by way of final month, with the entire quantity due of practically $356,000, equal to 12 months of lease, in response to the grievance it filed on Could 14 with California’s Superior Courtroom for the county of Santa Clara.

“The allegation that VinFast has not paid rent from May 1, 2023, to April 1, 2024, is inaccurate,” VinFast mentioned in an announcement to Reuters.

“We have made monthly rent payments up to and including March 2024. We have suspended rent payments since April 2024 due to ongoing negotiations with the landlord to amend the lease agreement,” VinFast added.

SPG Middle mentioned in its grievance it had despatched VinFast a discover to pay or stop on April 26, however VinFast didn’t adjust to the necessities of the discover by the Could 1 deadline.

The EV maker faces two separate probes in the US for an April crash in California when 4 individuals died in an accident involving a VinFast’s VF8 automobile; and for the alleged violation of ArcelorMittal (NYSE:) patents for aluminium used within the VF (NYSE:) 8.

Two regulation companies additionally filed a category motion lawsuit in April in opposition to VinFast on behalf of shareholders who allege deceptive statements by the carmaker brought about them monetary hurt.

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