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It's 505 and welcome in to a Thursday edition of the Carolina Journal News Hour on Charlotte's FM News Talk 107.9 WBT. I'm Nick Craig. Good morning to you. There is a Vietnamese electric car manufacturer by the name of VinFast. They've been in North Carolina news over the last couple of years.
We've got a very interesting headline this morning over on our website, CarolinaJournal.com, to walk us through some of those details. This morning, Teresa Opeka joins us. Teresa, before we get into the most recent news out of VinFast, can you walk our audience through some of the saga that that's been over the last couple of years? Yeah, Nick, thanks so much for having me this morning.
So the company VinFast, which is, like you, as you said, an EV maker based in Vietnam, promised this huge, huge new first manufacturing, automobile manufacturing facility in North Carolina a few years ago. There was a huge groundbreaking in Chatham County and specifically in the town of Moncure, which is like right in the The center of the state. It was going to bring all they're going to create all this, you know, all the they were going to boost the economy so much. It was when former governor Roy Cooper was still in office. They had this huge groundbreaking, and there was just all these promises.
I believe that he called it the crown jewel, or no, VinFast called this new plant the crown jewel for VinFast. That's what it was described as. But there have been several delays. There's been bad reviews about this company. They're hemorrhaging money, and that's no pun intended.
They really are billions of dollars every year. They continue to do that. And now word comes that they actually were going to start manufacturing, I believe it was in 2024. And that kept getting pushed back. And they pushed it back to 2028.
They said this in 2024. We're just taking a break. We need to focus our energies somewhere else. We're going to open up this plant in 2028. And you did not hear anything for almost over two years now from this company.
Well, earlier this week, they announced. That they were going to restart production next month on this plant. And that's not the only news with this, so we can get into that as well. Yeah, we'll walk through some of that. And Teresa, you mentioned VinFast calling this a ground jewel for former Democrat Governor Roy Cooper.
This was a major business announcement as the company was originally supposed to bring somewhere in the ballpark of 7,500 jobs to North Carolina, which would be a large employer by any scale. But unfortunately, Teresa, we have seen with many of these large-scale business announcements that have been made in the state over the last 10 years, more than half of them don't come to fruition. And it would appear that VinFast is unfortunately falling into that category. That's right, that's right.
So it was announced that we were going from that high-ranked goal of 7,500 employees. All the way down to 1400. That's about 80% or so of a cut. Yeah. Yeah.
Yeah. That's not good. But there's a problem with that. The incentives package, the state and local officials promised to VINFAST, that may not. Come to fruition for the company because it's all based on hiring targets.
So, that job development investment grant, or better known as JDIG, of up to 316.1 million in state reimbursements over three decades, along with 400 million incentive package from Chatham County, they're contingent on the company meeting that hiring goal of $7,500 and investing $4 billion. And the state also is spending $450 million on infrastructure around the site, including a new highway to gain access in and out of the site. You can go into that as well. There's ramifications that have already taken place with that.
So, unless somehow they can turn this around and say, oh, we're going to meet that $7,500 job requirement with all those jobs coming in, they're not going to get those reimbursements from the state. And that's a huge, huge problem. I don't. This is my opinion, but I don't see a good way of this actually happening. And I mean, I could be wrong.
I'm not in the business sector. And I've been following this for a number of years. There have been so many, it just seems like this company has one thing plaguing it after the other. It's doing fairly well in its home country at Vietnam, and it shifted gears and pun intended focusing on markets in Asia. They had a big groundbreaking a few years ago over there.
It seems, but they're also selling their vehicles to themselves in their home country. They are losing billions of dollars every year. They just, you know, they've had such bad reviews. It just seems like it's not a good bet for this company to come follow through.
So it was a big shock to see that, oh, they're going to restart production in April. And you're like, wow. Really?
Okay.
So, I mean, the proof's in the pudding. Going to have to wait and see. But it just doesn't seem like this is going to be a good long shot. And especially if they can't deliver on those jobs that they promised, the state's not going to give them the money.
So I just don't see this Coming to a good end. For for North Carolina or for the company.
Well, and Teresa, unfortunately, some of this is external market factors. You and I have talked a couple of times about VinFast over the last few years, and we've highlighted every single time the demand for electric vehicles, at least in the United States, continues on a downward trend. That's not to say that EVs aren't practical for some people. That's not to say that it's not really cool technology, which it absolutely is, but consumer demand is not currently meeting the current EV manufacturing. You'd find it probably hard to believe that a brand new company coming into the United States would be able to break market trends on where EVs are generally going right now, anyway.
That's right. That's right. You know, and it's not a well-known company. It's made some headway. They've had some dealerships here in North Carolina as well, or some other dealerships taking on that franchise, if you will, but some of them have closed already.
So you're more likely to buy an EV from, say, Tesla, or maybe there's something from Toyota, or people are now turning back to hybrids, right? They're getting the best of both worlds. And probably focusing more maybe now on the EVs, now the gas prices are going up. But for as far as VinFast, you also had that tax credit ending last year. I believe it was in October, the tax credit.
So that also put a ding into things. But things here in this country have really cooled as far as for electric vehicles. As you mentioned, you've got to be in the right market for that. You're not going to see a lot of people in rural North Carolina getting an EV. I mean, there might be, but your charge is not going to last all that long if you're in that type of an area.
It might last in Charlotte or Raleigh or even like Wilmington, somewhere there might be some more chargers. But say a really rural part of the state, you're going to find it very hard to find those, you know, few and far between.
So it's just, unfortunately, the right mix of ingredients have not been good for this company further along. And you're just. It all adds up to not a good ending. Again, I'm not in the business sector, but I've been following the story for a number of years, and it just does not look good. Even though saying, oh, they're going to push ahead and start up the factory and construction on the factory next month, there's been so many delays, so many scaling down of the original assembly plant.
Um, it just doesn't look good. Teresa, you mentioned a few minutes ago that the J. Digg grant, a job development investment grant, and nearly $400 million from Chatham County, all of that was contingent on that $7,500 hiring goal, which does not appear it's coming anywhere near fruition right now. But you also highlighted nearly half a billion dollars that the state spent on infrastructure. Teresa, unless you're going to go and dig up the pipes and asphalt and put it down somewhere else, that money is spent and gone, and there's no way to recover those costs, is there?
No, there's not. There's not. The only thing that could be recovered, and what is mentioned in the article and citing other sources, is that the state has an option to repurchase the land from the company at the same price. As the property, the 2022 sale. That's the only thing that could happen.
And they definitely need to start production by July. But as far as that, you know, nearly half a million dollars being spent, that's gone. And the sad part, and I always come back to this human interest part of it, there's been so many businesses, 27 homes, five businesses, along with Mary Oaks Baptist Church. This church was in that area since 1888. Unfortunately, that met with a wrecking ball last June.
It was completely demolished. I know VinFast offered them a piece of land nearby so they could rebuild the church or move it. Unfortunately, that did not happen. I'm not sure of the whole circumstance why that wasn't moved or whatever, but you're seeing all this happen. You see then other eminent domain cases is what this was.
And it's just a sad fact that if this doesn't happen, doesn't come to fruition, you've lost this historic church. All its members have to look somewhere else to go, already have businesses, homes destroyed. And you know, it's not a sure bet that this is going to happen.
So there's a lot of different factors in this story. It's a very, you know, complicated and somewhat sad story on that side of the spectrum. Yes, there's still a lot of moving parts here. As Teresa just noted, they are expected to start construction potentially as early as next month. We'll wait and see what those details look like.
Teresa, where can folks go and get additional details? Sure, they can head on over to CarolinaJournal.com. Teresa Opeka joins us on the Carolina Journal News Hour. Bring incredible sound into every corner of your home with the new WhimSound Smart Speaker. Get high-resolution audio with a 1.8-inch touchscreen, smart control, and modern design in one powerful speaker for just $299.
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Mm. It's 5:21. Welcome back to the Carolina Journal News Hour, Charlotte's FM News Talk 107.9 WBT. We've got some sad news to pass along this morning out of the North Carolina General Assembly. Representative Mike Clampett, the Republican out of House District 119, which represents Jack Park portions of Jackson, Swain, and Transylvania counties, has unfortunately passed away after a nearly year-long battle with cancer, according to House Speaker Dustin Hall.
Clampett was first elected to the North Carolina General Assembly in 2016 and most recently won in the March the 3rd primary, just a couple of weeks ago, with 56% of the vote. Clampett shared with his constituents in April of 2025, almost a year ago, that he had been diagnosed with a rare form of cancer that has serious effects on blood and bone marrow that unfortunately he succumbed to yesterday in Raleigh. He wrote in the email in which he shared this information to his constituents last year, this is undoubtedly one of the most difficult periods of my life, but I remain hopeful and grounded by the unwavering support of my family, friends, and this incredible community. House Speaker Destin Hall releasing a statement yesterday afternoon saying Mike Clampett was a friend, a colleague, and a true patriot. For him, public service was both a calling and a duty.
From his years as a fire captain to his time in the North Carolina General Assembly. He loved the people he served and cared deeply about the issues that mattered most to his constituents in western North Carolina. He faced cancer with the same courage that defined his life, carrying himself with strength and grounding himself in his unwavering faith in God every step of the way. On behalf of the entire North Carolina House of Representatives, we will miss him dearly. My prayers are with all those who knew and loved him.
May they find comfort in knowing that Mike is with his Savior today. That was the immediate reaction from House Speaker Destin Hall as this news broke yesterday afternoon. We did also get some commentary from Governor Josh Stein, who obviously also saw this news roll out of the North Carolina General Assembly. He wrote, Before I was sworn in as governor, Representative Mike Clampett was one of the first people I called as we worked to rebuild western North Carolina after Hurricane Helene. He was a steadfast public servant for his community in western North Carolina, and today I am saddened by the news of his passing.
May his memory be a blessing. Another group jumping in as well, the Regional Council of Governments for Cherokee, Clay, Graham, Jackson, Haywood, Macon, and Swain counties released a statement Wednesday saying, The Southwestern Commission is deeply saddened by the passing of Representative Mike Clampett. We are thankful for his partnership and his dedication to our region. Representative Clampett cared deeply about Western North Carolina and was a strong advocate for our communities. He was always willing to listen, to engage, and to work towards solutions that made a difference for the people that he served.
He will be missed by many. Our thoughts and prayers are with his family and loved ones during these difficult times. The announcement there from House Speaker Destin Hall noted that funeral arrangements will be announced shortly by the North Carolina House Clerk when they are available.
So some sad news to pass along this morning. Representative Mike Clampett out of House District 119 passing away after a nearly year-long battle with cancer. In some other statewide news this morning, at a meeting Wednesday, the North Carolina State Board of Elections voted unanimously to reject a rulemaking petition to amend the reasonable impediment form regarding provisional voting. Jay Delancey, in a personal and professional capacity as a member of the Lee County Board of Elections, filed the petition back on November the 20th of last year. After a lengthy closed session, Adam Steele, the associate general counsel for the board, said...
Told the fellow board members within the state board that they had 120 days to act, with the deadline being this Friday. During the meeting, Steele said, Mr. Delancey submitted this petition for rulemaking before, and essentially what he's asking it to be done is that the photo ID exemption form for in-person voters, the form that a voter uses when they are unable to show a photo ID when they show up to vote in person. They have a couple of options. They can either come back to the County Board of Election Office deadline of noon on Friday after election day to show their ID, or they can fill out a photo ID exemption form with the no uh highlighting the North Carolina general statute that makes that possible.
Steele also said that it also has a direction on essentially what the state board is to include for reasonable impediment exemptions and a list of various reasons why you would fill out one of those forms. Steele continued by saying ultimately if a county board finds that the form is false, then that provisional ballot as voted by the voter would be disapproved.
So Mr. Delancey's request is that that form go through the rulemaking process and add a new requirement to be added to provide a driver's license or social security number to the form. And then ultimately, it would be processed where if the number doesn't validate, then the provisional ballot would be rejected. Steele said that the board could grant the request, deny it, or take no action within the 120 days, which would automatically act as a denial.
However, the executive director of the state board of elections and Sam Hayes said, Mr. Chairman, during the meeting, I'd remind this board that this is the subject of ongoing litigation in the Middle district, and this board is a defendant in this litigation. I would advise against it. He was referring to a voter ID case that has seen no action since April and could have affected the 2024 general election. It did not, and that case remains going through the court system as of this morning.
Chairman Francis DeLuca of the State Board of Elections said on the advice of Hayes, the matter shouldn't be discussed in public during open session, and all voted in favor of dismissing Delancey's petition. We've got some additional coverage on that this morning over on our website, CarolinaJournal.com. Speaking of the Board of Elections, that meeting yesterday. Also taking place here in North Carolina in North Carolina, as many eyes remain on portions of northern Guilford and Rockingham County, where a very close 23-vote margin exists in the race between Senate Leader Phil Berger, the longest-serving Senate president in modern North Carolina history, and Rockingham County Sheriff Sam Page. The Rockingham County Board of Elections is set to meet at 10 o'clock this morning to begin the process of doing a machine recount of that election.
There was some very, very brief discussion at the state board of election meeting yesterday, in which the discussion over the request from Senate Leader Phil Berger to do a hand-eye recount in ballots that were determined as overvotes and undervotes in the election that happened just a couple of weeks ago.
However, according to staff within the State Board of Elections, they provided information to the board, noting that all All-County Board of Elections, all 100 of them across the state of North Carolina, received guidance from the state board as to how the recounts or how any recount should play out, at least the first stage of that recount. Board members seem to think that the guidance that was given would be sufficient, not only for the Burger Page race, but any other race that is within that 1% threshold margin across the state of North Carolina.
So as of right now, it would appear that the hand-eye recount for the undervotes and overvotes will not be happening. It is not immediately clear when we will get the details of the new recount. Could be sometime later today. Could also be tomorrow. We'll keep you up to date with the details over on our website, CarolinaJournal.com, and then, of course, bring it to you right here on the Carolina Journal News Hour.
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Renewable, green, solar, wind, all of these sorts of forms of energy have been interesting topics of discussions, not only here in North Carolina, but across the United States over the last couple of years, to walk us through a new letter sent from some members of the North Carolina General Assembly to the federal government this morning. Mitch Kokai from the John Locke Foundation joins us on the Carolina Journal News Hour. Mitch, whether it's discussions within the North Carolina Utilities Commission, we've seen plans recently over the last few months from Duke Energy about how they're going to deal with some renewable energy sources. This is a pretty hot conversation in the political landscape. What are you tracking out of the legislature this morning?
Well, there's an interesting new letter that came out, Nick, from two senators in North Carolina, Tim Moffat and Buck Newton. Moffat is a Republican from Henderson County. Newton is a Republican from Wilson County, and they are the chair and vice chair of a joint legislative energy policy. Commission.
So they're very interested in energy policy. And as you might know, there is a law on the books that calls for North Carolina to try to reduce carbon emissions and has, as a mandate, try to be carbon neutral a couple of decades from now. And so one of the things that we have seen from Duke Energy, the major provider of electricity throughout North Carolina, is a move toward more solar projects. But there is some concern, or at least question, about whether the way these projects, these solar projects, are evaluated. Encompass all of the costs.
Because there's the cost of actually building the facility, putting in the panels, doing all of that. But the cost that is represented there doesn't necessarily incorporate everything else that comes along with doing a solar project, like having changes to the electrical grid. and having some changes that have to be made to the backup sources since solar power doesn't run all day. I mean, it doesn't provide anything when the sun's down or if it's cloudy.
So the more reliable sources that rely on coal or natural gas, you have to do other things to make sure that they can ramp up and shut down depending on when the solar is operating. This is something that we have seen in North Carolina's Utilities Commission, especially since Don Vandervaart became a member last summer. He has issued a series of dissents when the Utilities Commission has otherwise voted four to one to approve new solar energy policies or new energy projects, including one last December in Wayne County for 67 megawatts of new solar power. There was a dissent from Don Vandervaart, who said, Look, as I have said in previous dissents, I'm dissenting from this because. We haven't gotten a full picture of what the real costs are going to be from solar energy.
And without a picture of the real costs, we can't actually say that this is the least cost option for North Carolina to meet its energy needs. And state law says that we have to get the least cost, reliable energy source for any of our new energy. And this solar project doesn't meet that need.
So, interestingly enough, These are concerns that have been raised by Don Vandervaart on the Utilities Commission, and now. Tim Moffitt and Buck Newton sent a letter to the number two official in the U.S. Department of Energy, a fellow Deputy Secretary to James Danley, saying, Will you please provide us with some information? About how we should look at these solar energy projects and their total costs. We know the cost of.
Building the actual facility and the panels and that sort of thing. But how else should we factor in some of these other costs that are being passed along to some other parts of the sector, including the grid, including ramping up and shutting down these backup sources? How should we go about incorporating that? And I think it'll be very interesting to see whether the Federal Energy Department does provide some guidance here that would help not only North Carolina, but really utilities commissions across the country decide how they should judge the overall costs of these solar energy projects. Yeah, I mean, Mitch, coming right to the top of my mind is things like Duke Energy or other providers having to build substations, potentially running hundreds, maybe thousands of miles worth of high-tension power lines when you talk about running three or four cables per pole that goes through.
Those things I can't imagine are very cheap to operate, and I can't imagine that those are being included in some of these costs for building a brand new solar facility somewhere across North Carolina. The way that Vandervaart has described it in his dissents is that they're socializing the costs by saying that these are general system costs that you need to just make sure that things are current and to make sure that the grid is in the electric grid is in the best shape that it should be. But the point that Don Vandervaart, Utilities Commissioner, who is a former state environmental secretary, by the way, and was also the head of North Carolina's Office of Administrative Hearings, so he dealt with a number of legal issues in addition to energy and environmental issues. The point that he's making is that Duke Energy and the Utilities Commission are treating these as system-wide costs when they are really solar power costs. That if you by law, Have to only approve new power projects that are least cost and reliable.
that part of the calculation about lease cost Is all of the costs that are due to the solar energy project, not just the costs that appear on the surface? And that's one of the reasons why I think that you have seen those dissents. And now that you have seen this letter submitted to the feds saying that, wait a minute, we should have some guidance from you about. How many costs and what type of costs we should include when we're considering a new solar energy project? One of the things that the letter cites is that this is an issue that isn't just coming out of the blue.
The U.S. Energy Secretary himself has been raising these same issues in talking about solar energy and its potential costs. And I think that's one of the reasons why these senators and why the Utilities Commissioner Don Vandervaart have been raising these issues. They're saying, look, You have these surface level costs that you can see from solar power, but there are other costs that the utilities are only having to pay for solar. And if they're only having to pay these things because of solar, then you should include those costs in the cost of the solar project.
And they're asking the federal government if that's the right way to look at it and for some guidance from the feds about how solar energy should have its costs calculated moving forward. And Mitch, it should be no surprise to our audience that lawmakers in the North Carolina General Assembly are interested in this. We saw back during the legislative long session last year, there was the 2030 interim carbon plan goals that were set to go in effect here in just a couple of years. In 2030, the Republican-led General Assembly decided to get rid of those midterm or interim goals, I should say, and go towards the full plan, which I believe is a 2050 date on that.
So we still have a couple of decades there. This is a keen issue for lawmakers. And for anybody that's spent time in any nextdoor.com or Facebook groups over the last couple of months, then people have been complaining consistently about their outrageous energy bills. I would imagine that this is something that a lot of residents across the state of North Carolina are pretty concerned with when they're getting a $500 or $600 power bill from Duke Energy. Yes, they certainly should be concerned about this.
And I'm glad you brought up the legislation that got rid of that interim goal, because this does play into this. Remember that one of the reasons For getting rid of that 2030 aspirational goal of reducing emissions by a certain percentage on the way to this 2050 goal of carbon neutrality. One of the reasons for getting rid of that goal was that legislators who were supporting the change said, Look, the energy providers, and mainly we're talking about Duke Energy, but to some extent you've also got Dominion and maybe some of the smaller electricities and the co-ops and that sort of thing. But it's mainly Duke that we're talking about. The Duke was looking at that 2030 goal and saying we have to have a whole lot more solar to meet that goal.
Now that goal is gone.
So they don't the 2030 goal.
So they don't have to have solar to meet that goal. But I think they're still looking at solar as a way to meet the twenty fifty goal. But what the letter that goes to the U.S. Energy Department's Deputy Secretary and the dissents that you've seen on the solar projects from Don Vanderbaugh, what they're pointing out is that To meet the least cost reliable standard, You need to be focused on more than just what seems to be a surface level cost from this new solar power project. You also need to factor in the costs that solar is placing on the entire system.
And when you do that, Solar is much more costly than you would otherwise think it would be, and that should be factored in to the decisions that are being made now about future energy sources going out over the next couple of decades. And if you do factor in these extra costs, that it's going to be much more likely that solar is going to look like a less reliable and less viable option. And the ultimate impact for the taxpayers and ratepayers should be that Duke Energy won't be pursuing These types of projects that are going to ramp up costs so much, but they will look at more reliable options like the nuclear, like the natural gas, like extending coal, even though coal eventually is going to go away. You'd extend coal as long as it's feasible to do so until you can transition the coal to natural gas or have these other nuclear options online rather than the costly solar options. Yeah, this is not just some theoretical discussion we're having today, Mitch.
This has a real impact on everybody across North Carolina, literally every month, when they are getting a copy of their utility bill. We'll keep an eye on this letter, a response potentially from the federal government. We've got additional details over on our website this morning, CarolinaJournal.com. We appreciate the information this morning. Mitch Cokei from the John Locke Foundation joins us on the Carolina Journal News Hour.
Bye. Good morning again. It's 5:53. Welcome back to the Carolina Journal News Hour, Charlotte's FM News Talk 107.9, WBT, recapping some statewide news this morning. After being silent for almost two years, electric vehicle maker VinFast announced earlier this week that it plans to resume construction potentially as early as next month on a $4 billion electric vehicle manufacturing plant in Chatham County.
The company announced in July of 2024 that it planned to delay the factory opening until 2028, while production was originally scheduled to start taking place back in 2024. The announcement comes as the word that the Vietnamese company poses a net loss of $3.9 billion in 2025, continuing a trend of losses after losing $3.2 billion in 2024. The company is also announced that it is significantly lowering its hiring goals. Originally, when the project was announced, the big-time announcement for former Democrat Governor Roy Cooper, more than 7,500 individuals were expected to be employed by VinFast in and around Chatham County.
However, according to the most recent information from businessnc.com, that new number is just 1,400. This is raising questions and comments once again about job development investment grants, also known as JDIG programs, that were announced many years ago when VinFast first announced their intention to build that $4 billion EV plant here in North Carolina. The company was originally supposed to receive somewhere in the ballpark of $316 million in state reimbursements over 30 years, along with another $400 million worth of incentives from Chatham County.
However, all of that was contingent on the company meeting its hiring goal of 7,500 workers and investing $4 billion. And with this major scaled-down production, at least as of right now, from 7,500 to 1,400 employees, they are nowhere near those targets. And while those monies will not be expensed unless the targets are met, the state has already invested a significant amount of money. The state also spent nearly $450 million. Billion, almost half a billion on infrastructure around the site, including a brand new highway to gain access in and out of the site, utilities, and everything associated with it.
VinFast has, as I mentioned, has been dealing with some major, some very significant financial problems over the last couple of years.
However, they did look to pivot and did, in fact, pivot over the last two years to a much stronger Asian market for electric vehicles, building and having a groundbreaking for an EV assembly plant in Indonesia in 2024.
However, they now appear to be setting their eyes back on the state of North Carolina. We have been keeping very close tabs on this story and many of the other JDIG announcements that have been made throughout the state of North Carolina over the last decade. You can read some additional coverage on VinFast, kind of walk through the entirety of this story, and check out some of our other J Dig stories as well. Those details over on our website, CarolinaJournal.com. We are continuing to wait for recount details out of both Northern Guilford and Rockingham County in the very close race between Sam Page.
And Phil Berger, the Rockingham County Board of Elections, does meet at 10 o'clock this morning. We'll be keeping an eye on that meeting and let you know as soon as we get any additional details. Again, over on our website, CarolinaJournal.com. And of course, we'll bring you the latest coming up tomorrow morning right here on the Carolina Journal News Hour. That's going to do it for a Thursday edition.
WBT News is next. Followed by Good Morning BT. We're back to you tomorrow morning, 5 to 6, right here on Charlotte's FM News Talk, 107.9, WBT.
