VinFast Auto (VFS) and Exposure SARL Sign an MOU Regarding EV Supply in Kinshasa

VinFast Auto Ltd (NASDAQ:VFS) is one of the best strong buy penny stocks to invest in. VinFast Auto Ltd (NASDAQ:VFS) and Exposure SARL announced on February 10 the signing of a Memorandum of Understanding about the potential supply of electric vehicles for green taxi services in Kinshasa, Democratic Republic of the Congo. Management stated that the agreement marks a significant milestone in its international expansion strategy and proves to be a notable step forward in the promotion of the green transportation transition in the capital of the DRC.

The MOU entails discussions and coordination between the two parties for the development of a plan to supply the first batch of VinFast electric vehicles for Exposure to operate electric taxi services in Kinshasa. The batch is anticipated to include commercial-oriented Limo Green and Herio Green models, which are considered an initial foundation for an all-electric taxi model.

Management further added that Exposure expressed an intention to take on the role of a distributor of VinFast Auto Ltd (NASDAQ:VFS) vehicles in the Congolese market, and would jointly study a business plan suited to local conditions. The MOU between VinFast Auto Ltd (NASDAQ:VFS) and Exposure SARL initiates the implementation of the strategic cooperation framework established by Vingroup and the City of Kinshasa in 2025.

VinFast Auto Ltd (NASDAQ:VFS) is involved in the design and manufacture of electric vehicles. Its offerings include electric buses and electric scooters, along with an e-mobility ecosystem built around community, customers, and connectivity, as well as the rollout of new vehicles.

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Disclosure: None. This article is originally published at Insider Monkey.