Itochu Enex to offer car washing in Vietnam in 2020 as it expands overseas

21, Nov. 2019

HO CHI MINH CITY, NNA – Japanese energy service firm Itochu Enex Co. will launch car washing facilities in large commercial buildings in Vietnam starting from April next year as part of its expansion plan in Southeast Asia.

Itochu Enex will establish Enefleet Vietnam Co. jointly with Enex Fleet Co., a subsidiary of Enex, to offer after-sales services such as car washing, coating and light maintenance, taking advantage of Enex Fleet’s expertise on car washing.

The move is the group's first venture in automobile related services in a foreign market as it anticipates growing demand from robust vehicle sales in the country, Itochu Enex spokeswoman in Tokyo told NNA on Wednesday.

To be set up with a capital of 90 million yen ($831,000), the local unit will see Itochu Enex holding 49 percent stake with Enex Fleet taking up 51 percent.

In its broader efforts to expand overseas, the Vietnam unit will consider forming alliances with other companies such as local partners while exploring expansion in other Southeast Asian countries, the spokeswoman added.

In its statement on Nov. 15, the group said it “will actively expand its overseas operations, using the business expertise that it has been developing in Japan, with a view to developing business in countries in Southeast Asia, where continued growth is expected.”