Under the agreement, both parties will negotiate the sale of VF 5 electric vehicles and electric buses to the Union of Drivers and Related Workers of Durango, a member of the Confederation of Mexico Workers (CTM) for public passenger transport in Durango City, replacing the current gasoline-powered fleet.

Additionally, VinFast and its affiliate, V-Green, and CTM will collaborate in studying, setting up, installing, and/or operating charging infrastructure for electric vehicles and electric buses in Durango, creating a convenient and extensive charging network to meet the needs of both personal and public transport vehicles.

This cooperation will contribute to the greening of transportation and the development of the EV ecosystem in Durango City and across Mexico. Replacing the gasoline fleet with electric vehicles will significantly reduce CO2 emissions, while also helping the Durango Drivers' Union save on operating costs and create new jobs through the installation and operation of the charging system.

A subsidiary of Vingroup, the leading private conglomerate in Vietnam, VinFast offers a full range of electric vehicles, from cars and buses to scooters and bikes. Their compact e-SUV VF 5 is a popular choice for both individual drivers and taxi fleets due to its good value, reliability, nice design, smart technologies. VinFast's electric buses are designed with versatile capacities and options, prioritizing safety with the latest technology. These vehicles, along with others in VinFast's lineup, have been adopted by various transportation companies throughout Vietnam, playing a crucial role in familiarizing the public with EVs and promoting a greener transportation landscape.

Ms. Pham Thuy Linh, Deputy CEO atVinFast, stated:"We are impressed by the State of Durango and CTM's strong commitment to a green transition. This shared vision for a sustainable future aligns perfectly with VinFast's core values. With our high-quality electric vehicles and our affiliates's expertise in taxi operation and charging infrastructure, we are confident in our ability to support the State of Durango in realizing their vision, creating a lasting impact on the state and the broader Mexican landscape."

Mr. Juan Erik Mercado Rangel, on behalf of Mr. Ricardo Fidel Pacheco Rodríguez, General Secretary, and Mr. Juan Pedro Mercado Gallegos, Deputy General Secretary of the Durango Drivers' Union, remarked: "We are thrilled to collaborate with VinFast, a global EV brand. Their vehicles, their green mobility eco-system, as well as their grand vision and spirit of partnership have truly impressed us. CTM believes that this collaboration not only paves the way for enhanced transportation services but also positions us at the forefront of the global shift toward sustainable mobility."

While still at an early stage, Mexico's electric vehicle market is experiencing a rapid uptick. The country's potential for EV adoption is significant, and the Mexican government is exploring incentives to further stimulate the sector.

As a global electric vehicle brand, VinFast is at the forefront of solutions and collaborations aimed at promoting the greening of transportation worldwide. Recently, in September 2024, VinFast marked a significant milestone by becoming the first EV car brand to top sales in Vietnam, establishing its presence with a diverse range of EV models in the U.S., Canada, France, Germany, the Netherlands, Indonesia, and the Philippines.

https://vinfastauto.com/vn_en^[2]

Hashtag: #VinFast #Vingroup

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)
2. ^{^} https://vinfastauto.com/vn_en (vinfastauto.com)