On January 15, China’s Eternal Asia, a member of the Shenzhen Investment Group, and the Carvivu Joint Stock Company officially signed a business cooperation contract for the production and distribution of electric vehicles (EVs) and battery charging stations in Vietnam.

The two parties reached an agreement and officially signed an MoU to jointly invest in the construction of an EV manufacturing and assembly plant, aligning with the Vietnamese Government’s green energy conversion policies. Their cooperation will focus on distributing various types of EVs, including passenger cars, trucks, and buses, along with establishing a network of convenient battery charging stations and maintenance and service centers nationwide.

Mr. Peter Li, Vice Chairman of the Eternal Asia Group, attended the signing ceremony and declared that Vietnam is a crucial market for the company. He hopes that Carvivu and Eternal Asia will work together to swiftly address agreed-upon issues and investments, leading to the rapid adoption of Eternal Asia’s products in Vietnam.

Similarly, Ms. Nguyen Thi Lan Huong, CEO of Carvivu, expressed great expectations for their cooperation, believing it will help Carvivu become a leading player in the production of new energy vehicles and related services in Vietnam.

Eternal Asia and Carvivu pledged to deliver high-quality products and services together, actively contributing to the development of Vietnam’s automotive and green energy industries.

A leading enterprise in the supply chain and innovation sector in China, Eternal Asia is the first publicly-listed supply chain company in the country. With turnover surpassing RMB100 billion ($13.96 billion) in 2022, it holds 193^rd spot on the Fortune China 500 list. Its service network extends to more than 320 major cities in mainland China and Hong Kong (China), Singapore, the US, and various other countries, serving over 100 Fortune 500 companies and more than 2,600 other renowned enterprises.

Carvivu Vietnam, a subsidiary of Bao Lam Holdings, is active in the production and distribution of EVs in Vietnam, most notably as the exclusive distributor of Haima automobiles, a new brand introduced in December 2023.