EV Maker VinFast Plugs Into Thailand: 15 Dealers Sign On To Drive EV Revolution In The Land Of Smiles
Portfolio Pulse from Shivani Kumaresan
VinFast Auto Ltd (NASDAQ:VFS) has signed letters of intent with 15 dealers in Thailand to expand its distribution network, planning to open 22 showrooms in the Greater Bangkok Area and other major cities. This move is part of VinFast's strategy to leverage Thailand's high electric vehicle adoption rate and its goal to expand to at least 50 countries by 2024. VFS shares rose 0.85% to $4.74 in premarket trading.
March 27, 2024 | 11:35 am
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VinFast Auto Ltd (VFS) expands its distribution network in Thailand, aiming to open 22 showrooms. This strategic move is expected to enhance its presence in the EV market.
VinFast's expansion into Thailand through a significant dealership agreement indicates a strategic move to capture the growing EV market in the region. The positive premarket price action suggests investor optimism about the company's growth prospects and its ability to execute its international expansion strategy effectively.
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IMPORTANCE 90
RELEVANCE 100