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Vietnam-based electric vehicle manufacturer VinFast has accelerated its market penetration in the Philippines by signing strategic Memoranda of Understanding with 13 major local automotive dealer partners. The agreements pave the way for the establishment of 27 new showrooms nationwide, marking a critical operational milestone as the brand works toward its target of establishing 60 operational dealerships across the archipelago within the year.
“The Philippines is one of the key markets in VinFast’s long-term growth strategy in the region and globally. Here, we are not only focused on expanding our sales network, but also on building a sustainable foundation for growth spanning products, services, infrastructure, and the broader EV ecosystem,” Antonio Zara, CEO of VinFast Southest Asia said in a press statement.
This aggressive retail expansion comes at a pivotal time for the Philippine automotive sector. Supported by the implementation of the Electric Vehicle Industry Development Act, the country is experiencing growing consumer interest in electrified transport, driven by tax incentives, exemptions from traditional traffic volume reduction schemes, and rising fuel costs. By rapidly scaling its physical footprint, VinFast aims to capture early market share in a rapidly evolving green mobility landscape.
