Vietnam’s VinFast is expanding into the African market through a partnership with Ghana’s Jospong

Vietnamese car manufacturer VinFast Auto has signed a distribution agreement with Jospong Group of Companies, Ghana’s leading multi-industry conglomerate, in the Ghana and West African markets.

This deal marks the Vietnamese electric vehicle pioneer’s first foray into the African market, cementing its position as a frontrunner in the global shift to sustainable transportation, VinFast said in a statement last Friday.

Under this agreement, Jospong will distribute VinFast’s full range of vehicles, including electric cars, e-scooters, e-bikes and electric buses, across Ghana and West Africa.

Jospong will also plan to deploy public charging infrastructure across the country to support electric vehicle (EV) penetration.

According to the statement, this partnership with one of West Africa’s leading conglomerates strengthens VinFast’s commitment to delivering green and smart transportation solutions to customers worldwide, while at the same time enabling the company to realize the promising potential of the African market for tapping into electric vehicles.

Jospong Group is active in 14 different sectors with a network of more than 60 companies.

The group has a strong presence in sectors such as automotive, waste management, information and communications technology (ICT) and banking.

In addition to the announced distribution agreement, Vingroup, Vietnam’s leading private multi-industry conglomerate and parent company of VinFast, has signed a Memorandum of Understanding (MoU) with Jospong Group.

Under the MOU, Vingroup and Jospong will work together to identify and pursue business opportunities in areas of mutual interest, including electric vehicles, taxi transportation
activities, solutions for public transport, education, catering and real estate development.

“Vingroup’s commitment to a green revolution, especially through their innovative electric vehicle ecosystem and diverse VinFast offering, is truly inspiring.

“We are excited to partner with Vingroup and VinFast on their global journey, working together to build a more sustainable and brighter future for all,” said Dr. Joseph Agyepong, Executive Chairman of Jospong Group.

Tran Viet Anh, representative of VinFast Global, said the electric vehicle market in Ghana and West Africa is poised to grow, and they are honored to be at the forefront of this revolution with a leading Ghanaian company.

“Together, we are committed to building a sustainable future for Ghana by providing a comprehensive electric transportation ecosystem, from bicycles and cars to buses with flexible sales, so that everyone can participate in the clean transportation revolution,” he added to.

According to the statement, the EV market in Ghana and West Africa has significant development potential due to ample room for growth and minimal competition.

Fueled by government support for achieving net-zero emissions in the transport sector, demand is expected to rise rapidly.

It is noted that by 2040, Ghana envisions a future where a significant portion of gas stations will be repurposed for sustainable transportation options such as electric vehicles.

This partnership with Jospong Group therefore provides an important opportunity for Vingroup and VinFast to quickly consolidate their position in the region’s electric vehicle market and establish themselves as leaders in the wider sustainable transport sector.

Founded in 2017, VinFast owns an advanced automotive manufacturing complex with scalability and up to 90 percent automation in Hai Phong, Vietnam.

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