VinFast officially signs agreements with 12 new dealers in the US

LOS ANGELES, US - Media OutReach Newswire - 23 April 2024 - VinFast Auto (Nasdaq: VFS) today announced it officially signed agreements with 12 new dealers in the US. This expansion marks a significant step in VinFast's ongoing efforts to broaden its distribution network and strengthen its presence in the world's leading automotive market.

The 12 new VinFast dealership stores are anticipated to begin opening from April 2024. This will bring the total number of VinFast dealers in the US to 18, spanning across seven states: North Carolina, New York, Texas, Florida, Kansas, Connecticut, and Kentucky. California, the state with the highest EV adoption rate in the US, already boasts 15 operational VinFast stores and service centers.

The new dealerships will start selling the VF 8 model, followed by the VF 9 and VF 7 soon after their US launch. VinFast's customers will enjoy a market-leading after-sales policy, including a 10-year/125,000-mile warranty for the vehicle and a 10-year unlimited mileage warranty for the battery under standard use.

Furthermore, VinFast's parts distribution center stands ready to support dealers nationwide to guarantee consistent quality of maintenance and repair for our customers. Authorized dealers simply submit requests to a dedicated system, and such requests are processed and delivered regularly.

Mr. David Duncan, Vice President of Sales and Marketing at VinFast US, said: "Leveraging the network of stores, market experience, and capabilities of leading US dealers, VinFast will quickly deliver high-quality, competitively priced electric vehicles to consumers, along with outstanding after-sales policies. This establishes a solid foundation for VinFast's strong growth in the US market."

In the fourth quarter of 2023, VinFast made an important pivot from the capital-heavy, direct-to-consumer distribution model to a capital-light hybrid model with a strong focus on leveraging existing distribution infrastructure by building dealership networks in the U.S. and globally. Sales through dealers are expected to contribute significantly to the company's sales in the second half of 2024.

In addition to key markets such as the U.S., Canada, and Europe, VinFast is actively expanding into countries in Asia such as India, Indonesia, Thailand, and the Philippines, as well as in the Middle East and Africa. Outside of Vietnam, VinFast is also aiming to accelerate the construction of EV manufacturing plants in the U.S. and India, with plans to establish an additional plant in Indonesia.

VinFast US dealer network (New dealers in bold):

1. Leith VinFast, Raleigh, NC
2. Smith Haven VinFast, St. James, NY
3. Principle VinFast, Grapevine, TX
4. Hiley VinFast of Fort Worth, TX
5. VinFast Wichita, KS
6. Holman VinFast, Ft. Lauderdale, FL
7. Premier VinFast, Banford, CT
8. H Greg VinFast, West Palm Beach, FL
9. Triad VinFast, Greensboro, NC
10. H Greg VinFast, Doral, FL
11. Sandy Sansing VinFast, Pensacola, FL
12. VinFast Austin, TX
13. VinFast Gainesville, FL
14. Ewing VinFast of Plano, TX
15. VinFast of Bowling Green, KY
16. Hanna VinFast of Bradenton, FL
17. DeMontrond VinFast, Conroe, TX
18. DeMontrond VinFast North, Houston, TX

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

About VinFast

VinFast – a member of Vingroup – envisioned to drive the movement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.us/

News Source: VinFast