VinFast Expands US Presence with New Dealerships for EV Sales

Summary

  • VinFast Auto Vietnam has partnered with five local car dealerships across four US states in order to expand their reach in the electric vehicle market.
  • The partnerships will firstly introduce the all-electric SUV, the VinFast VF 8, with plans to expand to other models soon after arrival in the US market.
  • A comprehensive aftersales policy including a 10-year or 125,000-mile vehicle warranty and a 10-year unlimited mileage battery warranty will be offered to every VinFast customer.
  • The company aims to eventually have 125 sales points across the US. Their shares, VFS, are down 4.42% in pre-market trading.

VinFast’s Strategic Dealer Partnership

The Vietnamese electric vehicle producer, VinFast Auto announced on Tuesday entry into agreements with five local dealerships in North Carolina, New York, and Texas. This decision seeks to enhance accessibility to VinFast’s high quality electric vehicles.

VinFast Dealers Nationwide

VinFast dealers are now present in multiple locations around the US including in Raleigh, St. James, Grapevine and Fort Worth. The dealerships will initially be offering the VinFast VF 8, an all-electric SUV, with plans to later include the VF 6, VF 7, and VF 9 models in the US.

CEO Statement

“We are confirming our commitment to extend our commercial network and supply our products more rapidly. Working with dealers helps VinFast to quickly provide US customers with high-quality, competitively priced electric vehicles supported by superior aftersales policies. This move furthers our mission of promoting a sustainable future for everyone.” stated VinFast CEO, Tran Mai Hoa.

VinFast’s Aftersales Policies

Every customer purchasing or leasing a VinFast electric vehicle is eligible for VinFast’s comprehensive aftersales policies. This includes a 10-year/125,000-mile vehicle warranty, and an impressive 10-year unlimited mileage warranty for the battery, offered under non-commercial use.

Retail Expansion Plan

The goal is for VinFast to expand its dealer network to 125 retail outlets across the United States. With these dealership collaborations, VinFast currently oversees 13 retail stores and service centers in California.

VinFast shares (VFS) recorded a 4.42% drop in pre-market trading on Tuesday.

The advancement in VinFast’s US market presence via dealership partnerships might influence the electric vehicle market trends. It’s advised that traders and investors monitor the progress of these partnerships and the corresponding impact on VFS shares.

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