Vietnamese electric vehicles maker VinFast has officially announced strategic partnerships with LORET Group, which will be responsible for distribution in the French Overseas Territories market.
VinFast said in a statement on last Thursday that this move marks a significant step in the firm’s global business model transformation, aimed at rapidly expanding its retail network, strengthening brand presence, and optimizing operational efficiency in pursuit of long-term growth.
The collaboration with LORET Group will allow VinFast to tap into new potential in the French Overseas Territories and strengthen its distribution network across Europe.
Under this agreement, LORET Group will establish effective sales channels and deliver VinFast EVs to local dealers and customers.
In preparation for the high-demand season at the end of the year, VinFast has already begun delivering its electric vehicles to LORET Group.
The distribution agreement will remain valid for up to five years.
In 2025, the distributor will focus on selling the VF 6 and VF 8 electric sports utility vehicles (SUVs), which belong to the highly popular B-SUV and D-SUV segments, with more to come given the impressive product lineup both commercialized and under development by VinFast.
Product volumes will be adjusted based on market performance during this period, with a growth target of up to 100 percent by 2026.
VinFast said the firm is committed to offering its distribution partners competitive pricing, marketing support, and in-depth training programs to strengthen product knowledge and workforce capabilities.
For customers, the company will continue rolling out attractive sales programs and industry-leading aftersales policies, all aligned with its strict global standards.
Denis Lesueur, President and Chief Executive O of LORET Group, shared as a strategic distributor, the firm aims to establish a robust sales network that empowers dealers to deliver modern, smooth, zero-emission vehicles to customers, enhancing lives in the regions where we operate.
Le Ngoc Chi, Chief Executive Officer of VinFast Europe, said by leveraging their reputation, operational capabilities, infrastructure, and local market insights, they are committed to effectively expanding across European markets and achieving sustainable growth.
Beyond the French Overseas Territories, VinFast said it is also accelerating its footprint in France and Germany, two of the most influential automotive markets in Europe, supported by a growing network of dealer showrooms across both countries.
Through its strategy of expanding retail and wholesale channels via distributors and dealers, VinFast said the firm not only aims to optimize operational efficiency and increase brand presence but also to respond quickly to the growing demand from customers.
In addition, to ensure a seamless experience and maximize customer benefits, the firm has also partnered with leading aftersales providers, utilizing a network of service centers and specialized technical hubs across Europe.
Looking ahead, VinFast said ti is committed to further developing its network of distributors, dealers, and aftersales services in key markets, expanding into other European countries, and diversifying its intelligent electric vehicle ecosystem, reinforcing its long-term commitment to European consumers and laying a strong foundation for sustainable growth.