Vietnam EV maker VinFast opens first dealership in Indonesia

Indonesian firm PT Gallerie Setia Utama has opened the country’s first VinFast dealership, marking a milestone for the Vietnamese electric vehicle (EV) maker.

In a Tuesday announcement, VinFast, a subsidiary of Vietnam's largest private firm Vingroup, said the move followed its successful debut at the Indonesia International Motor Show (IIMS) 2024 in February.

Initially, the showroom in Depok city, west of Jakarta, will showcase two of VinFast’s EVs: VF 5 and VF e34; and providing professional consulting, sales and customer care services.

In addition to partnering with PT Gallerie Setia Utama, VinFast plans to significantly expand its EV distribution network across major cities in Indonesia this year to meet the increasing demand for EVs.

Nguyen Ngoc Chuc, deputy CEO of VinFast Indonesia, said the opening of the first VinFast dealership in Indonesia would pave the way for VinFast’s future models and contribute to advancement of the EV industry in Indonesia.

VinFast said it will also prioritize building a convenient charging network for Indonesian customers. VinFast founder Pham Nhat Vuong recently announced the establishment of V-GREEN Global Charging Station Development Company, aiming to establish charging station networks in key markets worldwide, including Indonesia.

Sister taxi operator to expand fleet

On March 29, Vingroup, listed on the Ho Chi Minh Stock Exchange (HoSE) as VIC, approved an additional investment plan for its taxi operator GSM wherein each contribution would not exceed 5% of the latter’s charter capital.

Vingroup CEO Nguyet Viet Quang will decide further details of the plan’s deployment for 2024.

Founded in March 2023, GSM had an initial capital of VND3 trillion ($121 million), which increased to VND6,199 billion in December 2023 and VND9,666 billion in January 2024.

As of end-2023, GSM had about 30,000 staff, including 14,000 taxi drivers. The firm, which uses VinFast vehicles, aims to expand its fleet to 30,000 EVs and 60,000 electric motorbikes soon.