VinFast signs dealer financing cooperation agreement with BCA
Under the terms of this Dealer Financing Cooperation Agreement, BCA is committed to offering flexible credit facilities tailored for VinFast's entire dealer network. This crucial funding is designed to facilitate the procurement of VinFast electric vehicles and genuine parts, ensuring a stable supply chain.
The credit facilities are diverse, encompassing a regular ceiling for consistent operational needs, along with seasonal/fleet ceilings for peak demand periods or bulk purchases of vehicles and parts. This tailored approach addresses varied business needs, enabling dealer partners to optimize cash flow and manage inventory effectively.
Furthermore, VinFast and BCA have collaboratively developed favorable payment terms and efficient financial processes. This empowers dealer partners with greater autonomy in managing their cash flow and accelerating capital turnover. As a result, fund disbursements and account management become quicker and more convenient, while minimizing complex paperwork, allowing dealers to focus intensely on their core business operations.
The primary objective of this strategic collaboration is to provide optimal financial accessibility for VinFast dealers, thereby propelling the expansion of the distribution network and strengthening VinFast's presence across the Indonesian electric vehicle market.
Mr. Denny Haryanto, Senior Vice President Corporate Banking BCA emphasized: "As one of Indonesia's private financial institutions, BCA is dedicated to supporting and driving the nation's long-term economic growth, particularly within the burgeoning electric vehicle sector. By providing credit facilities to VinFast's dealer partners, BCA is not only contributing to the electrified transportation industry but also enabling 'green enterprises' to pursue sustainable development. We are committed to supporting the government's energy transition program and emission reduction targets."
Mr. Kariyanto Hardjosoemarto, CEO of VinFast Indonesia, shared: "We are proud to partner with the esteemed financial institution BCA on our journey to penetrate the Indonesian market. This Dealer Financing Cooperation Agreement will grant our dealers essential access to capital, enabling them to expand operations. Through this, VinFast reaffirms our strong commitment to building and nurturing a comprehensive green transformation ecosystem. With BCA's financial backing, we and our dealer partners are confident in bringing VinFast electric vehicles closer to Indonesian consumers, contributing significantly to the nation's sustainable development goals."
VinFast has made significant strides in Indonesia in just over a year since entering the market. The Company offers a diverse product range covering the most popular segments, including the VF 3 (mini SUV), VF 5 (A-segment), VF 6 (B-segment), and VF e34 (C-segment). All models come with highly attractive sales and after-sales policies, such as free charging, a guaranteed buy-back value of up to 90%, and 0% interest on car loans.
VinFast is also aggressively expanding its dealer network in Indonesia, with 21 showrooms now established across key cities including Jakarta, Bandung, Surabaya, and Bali. To complement this, VinFast owners will benefit from access to authorized service workshops, operated by partners Otoklix and BOS nationwide, ensuring comprehensive support throughout their vehicle ownership. VinFast projects the establishment of 500 authorized service workshops across Indonesia within the current year.
Notably, VinFast is pioneering the development of a complete green mobility ecosystem in the EV sector through strategic collaborations. Key partners include GSM, an all-electric taxi service, and V-GREEN, a global EV charging network developer. Furthermore, the Company is committed to enhancing local production and supporting Indonesia's EV industry through its upcoming assembly plant in Subang./.
Hashtag: #VinFast
https://vinfastauto.id/
The issuer is solely responsible for the content of this announcement.
About VinFast
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, is a pure-play electric vehicle ("EV") manufacturer with the mission of making EVs accessible to everyone. VinFast's product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at https://vinfastauto.id/
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