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.
At the brand launch event held in the capital Manila, VinFast officially signed cooperation contracts with the first four dealers: EV Solutions, K1 Prestige Bay Motors Inc, and Autoflare Corporation, all based in Manila; and Iloilo City-based MNV Auto Group Inc. The first VinFast showrooms are expected to open in Manila by the end of June 2024.
Dealers will begin selling the VF 5, VF e34, VF 7 and VF 9 models as soon as they are launched on the market. The first cars are expected to be delivered to Filipino customers starting in the third quarter of this year.
VinFast is studying the introduction of the popular Vietnamese mini SUV, the VF 3, in the Philippine market. Additionally, the company is investigating the potential of electric motorcycles and bicycles. To address the diverse needs of Filipino consumers, VinFast will offer both battery car purchasing and an exclusive battery subscription policy. This subscription option aims to reduce the initial cost of electric vehicles, making them more accessible to Filipino consumers.
Furthermore, VinFast is distinguished by a leading after-sales policy in the Philippine market. This includes a 7 to 10 year warranty on the vehicles. Additionally, for those who choose the battery subscription policy, VinFast offers a free battery replacement and maintenance program if its capacity drops below 70%. This comprehensive plan provides peace of mind to Filipino customers throughout the ownership process. To accelerate its entry into the Philippine market, VinFast plans to open dozens of dealerships across the country in 2024. These stores will be strategically located on major highways in Manila and other key cities, catering to the growing Filipino middle class and growing demand of electric vehicles.
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Rafael Vincente R. Calinisan, Representative of EV Solutions, stated: “It is an honor to be among the first VinFast dealers driving the electric car revolution in the Philippines. We are impressed by VinFast’s huge market potential, thanks to its range of vehicles and industry-leading warranty. “Together, we will be able to meet the growing Philippine demand for electric vehicles and build a greener and 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 bring smart and convenient electric mobility solutions to Filipino consumers as soon as possible, offering total tranquillity. “Together, we will be able to meet the growing Philippine demand for electric vehicles and build a greener and smarter transportation future for the country.”
VinFast is distinguished by a leading after-sales policy in the Philippine market. This includes a 7 to 10 year warranty on the vehicles
Nguyen Thi Minh Ngoc, CEO of VinFast Philippines, said: “By partnering with trusted and experienced automotive companies, VinFast is determined to bring smart and convenient electric mobility solutions to Filipino consumers as soon as possible, giving them complete peace of mind. This collaboration marks an important step forward, establishing VinFast’s presence and laying a solid foundation for our long-term growth in the Philippines. In addition, we are committed to expanding our network of electric vehicle dealers in major cities, actively contributing to the unstoppable global shift towards green transportation.
The Philippines becomes the third Southeast Asian market that VinFast enters in the first half of 2024, after Indonesia and Thailand. This rapid expansion strengthens VinFast’s position in the region and demonstrates the company’s ability to rapidly accelerate its presence. In 2024, VinFast is making a strong push into international markets, including the US, Canada and Europe, as well as Asian countries such as India, Indonesia and Thailand. The company is also exploring the Middle East and Africa regions. In the Oil and Gas – Energy category of VIE10, there was also the presence of Vietnam Oil and Gas Group (Petrovietnam) in 1st position, followed by PV GAS, PTSC, PV Drilling, BSR and PVEP.
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