On July 29, VinFast and HBC Binh Minh Investment Joint Stock Company signed a strategic cooperation agreement to develop a distributor system.
In 2024, HBC Binh Minh will open 11 new VinFast car showrooms in 11 provinces and cities in both the North and the South. By the first quarter of 2025, HBC Binh Minh plans to open two more VinFast car dealerships in foreign markets such as Indonesia and India. As planned, HBC Binh Minh's first VinFast showroom will officially open on July 31, 2024 in Yen Bai , converted from an old business premises of a Korean car brand.
Signing ceremony of cooperation agreement between VinFast and HBC Binh Minh. Photo: VinFast.
Among the 11 VinFast showrooms that HBC Binh Minh plans to open this year, many showrooms have been converted from gasoline and diesel car brands to VinFast electric car sales. Speaking at the signing ceremony of the cooperation agreement, Mr. Le Quoc Dong, General Director of HBC Binh Minh Investment Joint Stock Company said: “With more than 30 years of experience in the automobile business, we estimate that in just 3-5 years, the Vietnamese market will witness a strong wave of conversion from gasoline cars to electric cars. We have determined that this is the right time to transform the business model, because in just about 3 years, almost only electric car dealers will grow in revenue and profit. We decided to invest heavily in the VinFast car distribution showroom system to accompany VinFast in developing the national automobile brand and conquering international markets.” HBC Binh Minh currently owns a system of more than 10 showrooms selling commercial cars and passenger cars of many different brands nationwide and has plans to convert a part of these into showrooms selling VinFast electric cars from now until the end of the year. HBC Binh Minh is also the first Vietnamese partner to accompany VinFast in expanding its business activities in international markets. Along with HBC Binh Minh, many internal combustion engine car distributors are also strongly responding to the campaign "Fierce Vietnamese Spirit - For a Green Future" to switch to selling VinFast electric cars. With 11 new showrooms of HBC Binh Minh and the strong participation of partners, it is expected that by the end of 2024, VinFast will own a system of nearly 100 showrooms and distributors in all 63 provinces and cities nationwide. Source: https://xe.baogiaothong.vn/hbc-binh-minh-lam-nha-phan-phoi-xe-vinfast-192240730111403402.htm
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