Financial News
Indonesian President visits VinFast manufacturing complex
January 13, 2024 at 06:00 AM EST
Vingroup Chairman and VinFast Global CEO, Mr. Pham Nhat Vuong, took the wheel of an electric buggy himself, guiding President Widodo on a close-up tour of VinFast's state-of-the-art complex.
After touring the complex and learning about VinFast's electric vehicle lineup, Indonesian President Joko Widodo expressed his pleasure at visiting the facility and was impressed with the quality and class of VinFast's vehicles. The President said that he would create all necessary conditions for VinFast to quickly complete the investment procedures for production and business in the Indonesian market.
As previously disclosed, VinFast plans to invest at least 1.2 billion USD in Indonesia over the long term. Alongside distributing vehicles imported from Vietnam to Indonesian customers during the initial phase, VinFast will invest 200 million USD to establish an electric vehicle manufacturing plant with a projected production capacity of 30,000 - 50,000 vehicles per year in Indonesia.
In the morning of the same day in Hanoi, President Widodo and Prime Minister Pham Minh Chinh met with businesses which had been investing and operating in the two countries. VinFast and GSM reported to the leaders of the two countries on the signing of a Memorandum of Understanding (MoU) with GoTo, Indonesia's leading technology company, the owner of the Gojek transportation services platform.
In a statement issued on behalf of Gojek, VinFast and GSM said: "Gojek has signed an MoU with VinFast and GSM, which aims to promote green transportation through the use of electric vehicles in Indonesia. Our companies will collaborate to promote the use of EVs among drivers of four wheel vehicles on the Gojek platform, ultimately aiming to provide a superior experience with VinFast's four wheel eco-friendly electric vehicles."
By signing an MoU with GoTo, VinFast and GSM demonstrate their commitment to supporting the Indonesian government's ambitious goal of reducing transportation emissions. This agreement opens up opportunities for cooperation and marks a significant step for VinFast and GSM in their global market expansion in 2024.
GSM, founded by Vingroup Chairman Pham Nhat Vuong, pioneers sustainable rental and taxi services exclusively using VinFast electric cars and scooters. Separately from the MoU, GSM also announced a plan to invest up to 900 million USD in Indonesia in the near future.
Hashtag: #VinFastAuto #GSM
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