HAX Chairman Doubles Down on VinFast Dealerships, Plans 6 New Locations by 2026

Overview

Haxaco (HAX) Chairman Đỗ Tiến Dũng, a veteran auto dealer with 32 years of experience, is committing significant resources to expand his VinFast dealership network, with plans to add 6 new locations by 2026. This strategic shift from distributing international luxury brands to focusing on Vietnam’s leading electric vehicle (EV) manufacturer reflects strong confidence in VinFast’s market trajectory and the domestic EV trend.

Key Facts

• Haxaco Chairman Đỗ Tiến Dũng has 32 years of experience in the auto industry, with his management team averaging over 20 years.
• The company currently operates 10 VinFast dealerships in prime locations across Vietnam.
• Haxaco plans to open additional dealerships soon in Bắc Ninh, Ninh Bình, Tây Ninh, and Châu Đốc.
• The target for 2026 is to collaborate with VinFast to open approximately 6 more dealerships.
• Chairman Dũng cites VinFast’s aggressive nationwide charging infrastructure investment and free charging policy as key competitive advantages.
• He notes VinFast’s product range, from the VF 3 to VF 9, is well-suited to Vietnamese consumer needs.

What Happened

In a recent interview, Haxaco Chairman Đỗ Tiến Dũng announced a full-scale investment in expanding his VinFast dealership network, marking a strategic pivot after decades of distributing international luxury car brands. Dũng stated that the decision is driven by the tangible growth trend of electric vehicles and VinFast’s strong performance in the domestic market. He emphasized that as a Vietnamese businessman, he sees supporting the national automotive brand as both a community responsibility and a sound business strategy.

Dũng detailed that Haxaco’s dealership system has expanded rapidly since shifting focus to VinFast, now comprising 10 locations. The company is preparing to launch additional outlets in Bắc Ninh, Ninh Bình, Tây Ninh, and Châu Đốc in the near term. For 2026, Haxaco aims to open about 6 more dealerships in coordination with VinFast. The chairman highlighted VinFast’s differentiated quality, service, and comprehensive charging infrastructure as factors driving consumer trust.

Market Context

HAX trades on the Ho Chi Minh City Stock Exchange (HOSE) and closed at VND 10,000 on April 10, 2026, with a slight decline of 0.47% on volume of 203,600 shares. The company operates in the automotive and parts sector, and this strategic emphasis on VinFast dealership expansion aligns with broader market trends favoring electric vehicles and domestic manufacturing in Vietnam. The move represents a significant bet on a key growth segment within the Vietnamese automotive retail landscape.

Strategic Significance

For long-term investors, this news underscores HAX’s strategic repositioning to capture growth in Vietnam’s EV ecosystem by aligning closely with its dominant domestic player, VinFast. By leveraging decades of distribution expertise to build a dedicated VinFast network, HAX is reducing reliance on legacy international brands and betting on a vertically integrated national champion. This partnership could provide HAX with preferential access to inventory, marketing support, and a share in VinFast’s expanding customer base as EV adoption accelerates.

What to Watch

• HAX’s quarterly financial reports to assess revenue contribution from VinFast dealerships versus legacy brands.
• Official announcements from VinFast regarding new model launches and nationwide sales targets.
• Updates on the opening timelines for the planned dealerships in Bắc Ninh, Ninh Bình, Tây Ninh, and Châu Đốc.
• Market share data for VinFast in Vietnam’s passenger vehicle and EV segments.
• Any regulatory changes or government incentives affecting EV adoption and infrastructure development.