Vingroup, Vietnam’s largest privately-run conglomerate, signed a strategic cooperation agreement with Vietnamese ride-hailing app FastGo on Thursday, which will see cars manufactured by its automotive arm VinFast used in the latter’s tech-based transportation services.
Under the agreement, VinFast will provide cars from two of its product lines, the four-seater hatchback Fadil and luxury sedan LUX, to FastGo, which will use the vehicles for its FastCar and FastLux ride-hailing services, respectively.
In the first phase, VinFast will deliver 1,500 Fadil cars to FastGo, before starting to supply the LUX sedans for FastLux in the second phase.
FastGo will begin using VinFast vehicles for its services from September 15, the ride-hailing company’s CEO Nguyen Huu Tuat told Tuoi Tre (Youth) newspaper on Thursday.
The first 200 Fadil cars will be handed over to FastGo from September to December this year, while a 300-car batch will be delivered on a monthly basis in the subsequent months.
Moreover, FastGo passengers will receive discounts if their journeys include stops in parts of VinGroup’s ecosystem of services and products, which range from apartment complexes and grocery stores to schools and hospitals.
VinFast was founded by Vingroup in 2017 and delivered its first batch of made-in-Vietnam cars to customers in late June.
FastGo was developed by a Vietnamese start-up in the NextTech Group umbrella, a group of companies operating within Southeast Asia’s digitized commerce industry.
FastGo has been offering motorbike ride-hailing service in Vietnam since June 2018.