Vietnamese electric automaker VinFast continues to expand its presence in the global market, the latest push being the agreement it signed with a local dealer network in the Middle East.
Agreement details
According to the press release, VinFast officially inked a dealer sales agreement with Bahwan Automobiles Trading LLC (BAT). As part of the deal, BAT will distribute VinFast electric vehicles in the Oman market.
This significant development essentially makes BAT the Vietnamese company’s official dealer in the local market. In that sense, BAT aims to build and manage 13 new VinFast stores and service centers this year through 2027.
The partners expect the first local VinFast store to launch by the middle of this year, with sales starting shortly. The initial models to go on sale in the Oman market include four electric SUVS: VF 6, VF 7, VF 8, and VF 9.
“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. Ta Xuan Hien, CEO of VinFast Middle East
Brief background
This major dealer sales agreement adheres to an initial Memorandum of Understanding for Cooperation VinFast and BAT inked during the United Nations Climate Change Conference 2023 (COP 28) in the UAE.
VinFast seeks to leverage this new partnership to fulfill its vision to lead the shift to green mobility in the Middle East while ensuring electric vehicles’ accessibility to all.
“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.”
Mr. Abdullah Ahmed Suhail Bahwan, Executive Director of Bahwan Automobiles Trading
Progressive expansion
The year 2023 was undoubtedly memorable for VinFast, a period that delivered a significant increase in revenue. However, its electric vehicle deliveries declined due to several market challenges.
VinFast’s expansion continues progressing, penetrating new markets like Indonesia, the US, Canada, Europe, and India.
At the same time, the Vietnamese electric vehicle startup introduced new models like the VF 3 small e-SUV and Wild e-pickup concept.
VinFast’s partnership with a local dealer in the Middle East will undoubtedly aid its goal of producing and delivering 100,000 electric vehicles globally in 2024. The Omani government’s supportive policies and initiatives to promote the shift to electric mobility will play a significant role in VinFast’s expansion in the region while contributing to reducing carbon emissions in the transportation sector.
