VinFast officially signs agreements with 4 dealers in the Philippines

MANILA, PHILIPPINES - Media OutReach Newswire - 31 May 2024 - VinFast Auto announced the signing of cooperation agreements with the first four Philippine dealers, paving the way for a strong retail network and solidly establishing the company's presence in the Southeast Asian country's electric vehicle market.

A large number of visitors attended the VinFast brand launch event in the Philippines.

At the company's brand launch event held in Manila, the capital city, VinFast officially signed cooperation contracts with the first four dealers: EV Solutions, K1 Prestige Bay Motors Inc, and Autoflare Corporation, all headquartered in Manila; and MNV Auto Group Inc., headquartered in Iloilo City. The first VinFast showrooms are expected to open in Manila at the end of June 2024.

Dealers will start selling the VF 5, VF e34, VF 7, and VF 9 models as soon as they launch in the market. The first cars are expected to be delivered to Philippine customers from the third quarter of this year.

VinFast is exploring the introduction of the popular Vietnamese mini e-SUV, the VF 3, to the Philippine market. Additionally, the company is researching the potential for electric motorbikes and electric bicycles. To address the varying needs of Filipino consumers, VinFast will offer both car purchases with batteries and a unique battery subscription policy. This subscription option aims to lower the initial cost of electric vehicles, making them more accessible for Filipino consumers.

Furthermore, VinFast sets itself apart with a market-leading after-sales policy in the Philippines. This includes a 7-10 year warranty on vehicles. Additionally, for those who choose the battery subscription policy, VinFast offers a free battery replacement and maintenance program if the battery capacity falls below 70%. This comprehensive plan provides peace of mind for Filipino customers throughout their ownership journey.

To accelerate the Philippine market entry, VinFast plans to open dozens of dealerships across the country in 2024. These stores will be strategically located on major roads in Manila and other key cities, catering to the Philippines' growing middle class and the increasing demand for electric vehicles.

CEO VinFast Philippines (in white, center) with guests at the event.

Mr. Rafael Vincente R. Calinisan, representative of EV Solutions, shared: "It's an honor to be among the first VinFast dealerships driving the electric car revolution in the Philippines. We're impressed by VinFast's strong market potential, thanks to their variety of vehicles and industry-leading warranty. Together, we'll meet the growing Filipino demand for EVs and build a greener, smarter transportation future for the country."

Ms. Nguyen Thi Minh Ngoc, CEO of VinFast Philippines, said: "By partnering with trusted and experienced automotive companies, VinFast is determined to deliver smart and convenient electric mobility solutions to Filipino consumers as soon as possible, offering complete peace of mind. This collaboration marks a significant step forward, establishing VinFast's presence and laying a strong foundation for our long-term growth in the Philippines. We're further committed to expanding our electric vehicle dealership network across major cities, actively contributing to the unstoppable global shift towards green transportation."

The Philippines becomes the third Southeast Asian market VinFast has entered in the first half of 2024, following Indonesia and Thailand. This rapid expansion strengthens VinFast's position in the region and demonstrates the company's ability to quickly accelerate its presence.

In 2024, VinFast is making a strong push into international markets, including the US, Canada, Europe, as well as Asian countries like India, Indonesia, and Thailand. The company is also exploring the Middle East and African regions.

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