HO CHI MINH CITY — VinFast looks to increase electric vehicle penetration in Vietnam’s ride-hailing sector through discounts and no-interest loans on motorbikes, as investors question whether the EV maker can ramp up shipments and move closer to profitability.
Be Group, a Vietnamese rival of Grab, said VinFast is offering perks to its motorbike drivers, adding to a string of startup deals aimed at further electrifying the local ride-hailing industry. The move announced late on Friday could give VinFast a sales boost following its listing on the Nasdaq last month. Vietnam’s sole EV exporter, which makes both motorbikes and passenger vehicles, has yet to record a profit, while its factory in Haiphong, Vietnam, remains vastly underutilized.