VinFast signs dealer sales agreement with first dealer in the Middle East
MUSCAT, OMAN - Media OutReach Newswire - 28 February 2024 - VinFast Auto (Nasdaq: VFS) officially signed a dealer sales agreement with Bahwan Automobiles Trading LLC (BAT) for the distribution of electric vehicles in the Oman market.
This event signifies not only VinFast's initial operation in the Middle East region but also a significant step in the VinFast's global expansion.
Under the terms of the agreement, BAT will become the official dealer of VinFast in Oman. From 2024 to 2027, BAT plans to establish and operate 13 VinFast stores and service centers. The inaugural store is anticipated to open in mid-2024, with vehicle sales commencing shortly thereafter. Additionally, VinFast will collaborate with BAT to sell four e-SUV models: VF 6, VF 7, VF 8, and VF 9 upon their market launch.
Previously, within the framework of the United Nations Climate Change Conference 2023 (COP 28) held in the United Arab Emirates, VinFast and BAT signed a Memorandum of Understanding for Cooperation. Through this collaboration with its first dealer in Oman, VinFast actively contributes to the realization of green mobility solutions within the Middle Eastern region, while affirming the commitment of the Vietnamese electric vehicle manufacturer to making electric vehicles more accessible to everyone.
Mr. Ta Xuan Hien, CEO of VinFast Middle East, said: "Oman presents a promising market for electric vehicles, as consumers in the nation demonstrate a growing interest in sustainable and environmentally friendly transportation solutions. We are confident that this dealer sales agreement with BAT, a leading and highly reputable dealer in Oman, will empower VinFast to swiftly establish a presence in the market and provide customers in the country with the most diverse and high-quality selection of electric vehicles available."
Mr. Abdullah Ahmed Suhail Bahwan, Executive Director of Bahwan Automobiles Trading, shared: "We are delighted to be the first Middle Eastern dealer of VinFast, a pioneering electric vehicle manufacturer in Vietnam renowned for its strategic vision and innovative products. We firmly believe that this dealer sales agreement will introduce captivating electric vehicle models to the Oman market, contributing to the development of the electric vehicle sector in Oman and enhancing the electric mobility experience for our customers."
The electric vehicle market in Oman is projected to experience significant growth in the coming years. The Omani government has implemented numerous initiatives to encourage the use of electric vehicles, aiming to address climate change, reduce carbon emissions, and limit the consumption of fossil fuels.
Hashtag: #VinFast
The issuer is solely responsible for the content of this announcement.
About VinFast
VinFast – a member of Vingroup – envisions driving the advancement of the global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90 percent automation in Hai Phong, Vietnam.
Strongly committed to the mission of 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: www.vinfastauto.com.
About BAT
BAT is an allied business of Bahwan International Group, which is a reputed entity with over 45 associate companies and more than 2000 employees, with presence across the Sultanate of Oman, the Gulf Region, North Africa, and South Asia. These Group of companies represents an impressive portfolio of more than 40 global brands, their diversified businesses cover a wide spectrum including automobiles, healthcare, agriculture, renewable energy, airport solution, logistic solution, earthmoving equipment, construction equipment, industrial equipment, debt collection services, high-end security solutions, survey instruments, elevators and parking solutions, which are some of the major businesses among others.