VinFast, the electric vehicle arm of Vietnamese conglomerate Vingroup, has signed letters of intent with five dealers in Indonesia to expand its distribution network in the Indonesian market, the EV maker announced Friday.
The five dealers, also the first, are GSU, BAM, and GNA, with headquarters in Jakarta; MCA, based in Medan; and Majesty, headquartered in Batam. The cooperation will help VinFast quickly establish its brand presence and link to local customers, VinFast said.
Indonesian dealers are expected to start selling the VF 5, VF e34, VF 6, and VF 7 models later this year following their official launches in the market. Pricing and sales details, including order times and after-sales policies, will be officially announced in the first half of 2024, VinFast noted.
VinFast aims to expand its EV distribution network this year to cover all major cities in Indonesia. This move demonstrates the company's determination to quickly become the preferred EV brand for Indonesian consumers and its global vision, including the goal of promoting the zero-emission transportation revolution for a green future for everyone.
"VinFast is delighted to partner with leading automotive dealers in Indonesia to bring local customers modern, exciting, and eco-friendly mobility solutions. We believe these agreements pave the way for a strong development foundation for VinFast and its partners while unlocking boundless opportunities for the local and regional sustainable transportation industry," said VinFast Indonesia CEO Tran Quoc Huy.
In September 2023, the Vietnamese EV maker said it plans to invest at least $1.2 billion in Indonesia in the long-term. Apart from distributing imported cars from Vietnam in the first phase, VinFast said it plans to build a $200-million EV factory in the country with an expected annual capacity of 30,000-50,000 vehicles.
In January, during a Vietnam-Indonesia high-level business dialogue, Indonesian President Widodo urged VinFast to expand its investment in the EV field and visited the VinFast EV manufacturing complex in the northern port city of Hai Phong.