Be Group working with VinFast and Cake by VPBank to promote EV use

The first phase of collaboration will see VinFast assist Be drivers in switching from petrol motorbikes to VinFast Feliz S e-bikes by offering a 4 per cent reduction for each bike. Additionally, Be drivers will benefit from all other VinFast stimulus initiatives according to the company's general policy.

Cake will also provide cutting-edge digital financial solutions for Be drivers to purchase a VinFast Feliz S with special interest rates starting at zero per cent. In particular, the entire loan application and approval process is done entirely online in just a few minutes, without having to visit a bank.

The Feliz has been chosen for its ability to drive up to 198km on a single charge and can operate in half a metre of water for up to 30 minutes.

Ho Thanh Huong, CEO of VinFast Vietnam, said, "The cooperation agreement between VinFast, Be Group, and Cake by VPBank gives Be drivers the opportunity to own and use smart, modern, and environmentally friendly e-bikes at optimal cost through simple and convenient procedures.”

“This deal gives customers access to a safe and reliable transportation alternative, and directly contributes to the government's net-zero carbon emission target by 2050," Huong added.

Vu Hoang Yen - CEO of Be Group, Ho Thanh Huong, CEO of VinFast Vietnam and Nguyen Huu Quang - CEO of Cake by VPBank signed a cooperation agreement to support beBike drivers in converting to electric motorbikes

According to Vu Hoang Yen, CEO of Be Group, the initial phase of collaboration, working with one of Vingroup’s partners, Green and Smart Mobility JSC, yielded many positive outcomes. In particular, the total number of electric taxi trips saw steady growth in August, representing 6 per cent of all car trips on the Be platform compared to an average 2-5 per cent EV trip contribution of other ride-hailing platforms.

“Be hopes to achieve the greater objective of popularising EVs for Be drivers and encouraging the growth of green transportation across the country, and we will continue to introduce products and services that meet the demands of Vietnamese consumers in the future,” said Yen.

Speaking about the newly signed agreement, Nguyen Huu Quang, CEO of Cake, said, “While this initiative brings fast, creative financing solutions to drivers, it could also be the start of development strategies of all kinds between Vietnam's top financial, technology, and manufacturing firms that promote comprehensive digital services, popularise EVs and foster environmental protection.”

Not only supporting drivers, Be also provides more proactive and convenient "green" transportation for customers

With the objective of achieving net-zero emissions by 2050, the market for EVs, and e-bikes in particular, is showing a lot of potential for development in Vietnam.

According to statistics from the Ministry of Industry and Trade, e-bike sales in Vietnam have increased by about 30-35 per cent recently, making the country the largest market for e-bikes in ASEAN and the second largest in the world, just behind China.

EV maker VinFast to list in US in August VinFast will list in the United States via a merger with a blank-cheque company after the Securities and Exchange Commission greenlit its proposed business combination.

Vietnam to take bold move to promote EV industry, green transition Buyers of electric vehicles (EVs) could receive an incentive totalling 1,000 USD per purchase.

VinFast makes its move to disrupt e-vehicle industry With VinFast’s debut on the Nasdaq catapulting the Vietnamese e-vehicle company onto the global stage, experts noted that a well-defined strategic approach ahead could help it maintain some momentum.