11:24 AM EST, 11/04/2024 (MT Newswires) -- VinFast Auto ( VFS ) said Monday it has signed a memorandum of understanding with Mexico's Durango Drivers' Union to collaborate on the green transition of public transport.

The agreement includes the potential purchase of 3,000 VF 5 electric cars and 300 electric buses by the union, the company said.

VinFast and its affiliate V-Green, along with the Confederation of Mexican Workers, will also collaborate in installing and operating charging infrastructure for electric vehicles and buses in Durango, the company added.

Financial details weren't provided.

Shares of the company were down 1.6% in recent trading.

Price: 3.70, Change: -0.06, Percent Change: -1.60