Asia Tech Wire (Apr 24) -- Vietnamese electric car maker VinFast Auto (Nasdaq: VFS) has added 12 new dealerships in the U.S.

VinFast announced Tuesday that it has signed agreements with 12 U.S. auto dealers, which will bring its total number of dealerships in the U.S. to 18, spanning across seven states: North Carolina, New York, Texas, Florida, Kansas, Connecticut, and Kentucky.

The new dealership stores are due to begin operations from April 2024, selling the VF 8 model, as well as the VF 7 and VF 9 models soon after their U.S. launch.

In the fourth quarter of 2023, VinFast declared that it will move from a direct-to-consumer distribution model to a capital-light hybrid model by building a network of dealerships in the U.S. and globally.

VinFast opened its first U.S. dealership with Leith Automotive Group in the Cary Auto Park, N.C., late last December.

Founded in 2017, VinFast is an electric vehicle division of Vingroup JSC (VIC), Vietnam's largest conglomerate.

The Vietnamese automaker began delivering electric cars in California in March 2023, and has gone public on the Nasdaq late last August.