HBC Binh Minh becomes a distributor of VinFast vehicles.

On July 29th, VinFast and HBC Binh Minh Investment Joint Stock Company signed a strategic cooperation agreement to develop a distribution network.

In 2024, HBC Binh Minh will open 11 new VinFast showrooms in 11 provinces and cities in both the North and South of Vietnam. By the first quarter of 2025, HBC Binh Minh plans to open two more VinFast dealerships in overseas markets, namely Indonesia and India. According to the plan, HBC Binh Minh's first VinFast showroom will officially open on July 31, 2024 in Yen Bai , converted from a former business premises of a South Korean automobile brand.

Signing ceremony of the 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 have been converted from gasoline and diesel car brands to sell VinFast electric vehicles. Speaking at the signing ceremony, Mr. Le Quoc Dong, General Director of HBC Binh Minh Investment Joint Stock Company, said: “With over 30 years of experience in the automotive business, we estimate that within the next 3-5 years, the Vietnamese market will witness a strong shift from gasoline-powered cars to electric cars. We believe this is the opportune time to transform our business model, because in about 3 years, almost only electric car dealerships will experience growth in revenue and profit. We have decided to invest heavily in the VinFast showroom system to partner with VinFast in developing the national automotive brand and conquering international markets.” HBC Binh Minh currently owns a system of more than 10 showrooms selling commercial and passenger cars of various brands nationwide and has plans to convert some of these into showrooms for VinFast electric vehicles by the end of the year. HBC Binh Minh is also the first Vietnamese partner to collaborate with VinFast in expanding its business operations into international markets. Along with HBC Binh Minh, many distributors of internal combustion engine cars are also strongly responding to the "Intense Vietnamese Spirit - For a Green Future" campaign, transitioning to selling VinFast electric vehicles. 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