VinFast signs partnership with first distributor in Micronesia

HANOI, VIETNAM - Media OutReach Newswire - 20 March 2024 - VinFast Auto (Nasdaq: VFS) officially signed a cooperation agreement with Guam AutoSpot to distribute VinFast electric vehicles in Micronesia. This agreement marks a significant step forward for VinFast's global expansion strategy and its vision for a green mobility revolution worldwide.

Under the agreement, Guam AutoSpot will be VinFast's official distributor throughout Micronesia, encompassing Guam and the rest of the Micronesian island groups. Guam AutoSpot is expected to begin importing VinFast electric vehicles, including car models VF 7, VF 8, VF 9, DrgnFly electric bicycles, and vehicle components, for distribution starting May 2024.

This partnership with Guam AutoSpot, one of Micronesia's largest automobile distributors, strengthens VinFast's international reputation. It underscores VinFast's commitment, as a pioneering Vietnamese electric vehicle manufacturer, to provide global consumers with green and smart transportation solutions, thus unlocking the potential of the growing Western Pacific electric vehicle market.

Founded in 2008, Guam AutoSpot boasts a well-established dealer network across Micronesia. For over 15 years, they have built a reputation for delivering high-quality distribution products and services.

Mr. Steve Tran, representative of VinFast Global said: "Micronesia is a potential electric vehicle market as consumers are showing high interest in green and sustainable mobility. We are confident that the cooperation agreement with Guam AutoSpot will help VinFast quickly reach the market and bring customers the most diverse and quality electric vehicle products".

Mr. Derrick Muna-Quinata, President of Guam AutoSpot, shared: "We are delighted to be VinFast's first distributor partner in Micronesia. We believe that partnering with VinFast, an automotive brand with a green mission and a strong foundation in the electric vehicle industry, will contribute to the development of the electric vehicle market in Micronesia and enhance customers' electrified mobility experience."

Micronesia is emerging as a potential electric vehicle market, fueled by the participation of international brands and the development of charging station infrastructure. VinFast's presence will strongly promote the greening of transportation not only in this region, but also across the Western Pacific.

As previously announced, VinFast will expand its operations to at least 50 countries around the world in 2024. In addition to key markets such as the US, Canada, and Europe, VinFast is aggressively expanding into neighboring countries in the Asian region such as India, Indonesia, Thailand, and the Philippines, as well as the Middle East and Africa. On top of its Vietnamese operations, VinFast is also accelerating the construction of electric vehicle manufacturing plants in the US, India, and will build a plant in Indonesia.

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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/