Vietnamese property firm First Real Estate has signed an agreement to lease a fleet of 1,000 electric vehicles from VinFast through Green Future Trading and Service JSC, a mobility and car rental business recently launched by Vingroup chairman Pham Nhat Vuong.
The deal, formalized on Friday, will initially see 300 electric vehicles delivered this year, with the remaining units to follow in 2025. The EV fleet will be deployed for tourism purposes and operated by First Real’s subsidiaries, Viet An Group Joint Stock Company and Green Motion Joint Stock Company.
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The companies aim to expand their mobility services through partnerships. “We will work with domestic and international travel agencies to expand the rental network and add new vehicle pickup and drop-off points,” First Real said in a statement.
Green Future was officially launched just three days before the lease deal was signed. The move is part of a larger strategy by Vingroup to promote electric mobility across Vietnam and the broader region.
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Earlier this year, Vingroup vice-chairwoman Le Thi Thu Thuy revealed that the company, in coordination with local authorities, plans to explore an electric bus route between Da Nang and Hue to serve both residents and tourists.
VinFast has been rapidly expanding its footprint in Asia, including recent market entries in India and Indonesia, where its V-Green subsidiary is building a charging network with a capacity for up to 100,000 vehicles. A potential fleet deal in Mexico was also disclosed last year.
