VinFast - Pioneering Vietnam’s automotive industry

VinFast - Pioneering Vietnam’s automotive industry

02.10.2018: • VinFast will manufacture first wholly Vietnamese-built range of vehicles • Model range will seek to exploit the ongoing boom in domestic car sales • Dedicated on-site supplier park will

•    VinFast will manufacture first wholly Vietnamese-built range of vehicles




•    Model range will seek to exploit the ongoing boom in domestic car sales


•    Dedicated on-site supplier park will help broaden domestic automotive supply chain


•    Exports will commence in 2020


•    GM partnership deal sees VinFast licence a global city car for production and take ownership of GM’s Hanoi factory


•    Electric car and electric bus are also already in development




VinFast is Vietnam’s first high volume car company, spearheading the foundation of a transformative automotive industry. Its pioneering ambition is evident in its participation in the 2018 Mondial De L’Auto in Paris, where it unveiled two new premium cars – the LUX A2.0 sedan and the LUX SA2.0 SUV, which will be go into series production in 2019.



Vietnam is currently in a 'golden period' of development, with significant inward investment and internal political support for major industrial projects. VinFast aims to take advantage of this economic climate, to exploit the ongoing boom in domestic car sales. Annual volumes are now around 300,000 units, but this is projected to triple to 900,000 per year by 2025.



The domestic car manufacturing industry currently servicing this demand is underdeveloped, but it has significant potential. At present, most car sales are of CKD (Completely Knocked Down) kit vehicles, which was necessary for overseas brands to avoid import tariffs on fully-assembled cars.


However, in 2018, import taxes on such cars from other ASEAN states will reduce to 0%. More affordable imports could therefore trigger a significant shift in buying behaviour, with a negative knock-on effect for this low-level domestic manufacturing.



VinFast seeks to capitalise on the shift towards higher quality cars, by offering a compelling and wholly Vietnamese-built range of vehicles. While the domestic market is the first priority, exports will follow in 2020.



Leading global automotive suppliers will have a presence in VinFast’s all-new production complex in Hai Phong. This will encourage the development of a broader domestic automotive supply base, bolstering Vietnamese expertise and capabilities, and increasing the domestic content of VinFast’s cars.






Beyond the LUX models – a full range of vehicles


VinFast is already looking beyond the cars being launched in Paris. Development is already underway of a small city car in partnership with GM, a fully electric car being developed by EDAG, and a fully electric bus with the support of Siemens.




City car and GM partnership:



In June 2018, VinFast signed a partnership agreement with General Motors (GM) that included the licensing rights for an all-new, global small car that will be manufactured and sold under the VinFast brand.



The new car will enter production in 2019 at a Hanoi plant that VinFast acquired from GM as part of the partnership agreement. Significant investment in the production facility will greatly increase capacity and will grow the manufacturing footprint of VinFast in Vietnam.



The agreement also granted VinFast exclusive distribution rights for the Chevrolet brand in Vietnam. GM will become a preferred automotive technology provider to VinFast, opening potential routes for future product sharing and technology transfer.




The transfer of the GM Vietnam operation to VinFast – including the Hanoi plant, dealer network and employee base – is expected to be concluded by the end of 2018.





Electric car:


Following its investment to bring electric mobility to Vietnam in 2018 with the launch of a range of eScooters, VinFast will unveil an all-new fully electric car in 2019.




Design development is being undertaken by renowned Italian design house, Italdesign Giugiaro, while complete engineering development of the car will be led by Germany’s EDAG, one of the world's largest independent engineering service providers. With sales starting in early 2020, it is likely to be the very first electric car on sale in Vietnam.




Electric bus:



In August 2018, VinFast signed two agreements to cooperate with Siemens for the development of a fully electric bus (eBus). The agreement specifically relates to electric motor manufacturing licences and the supply of components to support the production of the eBus in Vietnam.




Together with the production of e-scooters and electric cars, VinFast’s eBus will not only help improve the environment but also contribute to the transformation of the urban public transport system in Vietnam.



The agreements enable VinFast to establish a supply chain for the production of zero emissions public transport vehicles in Vietnam, contributing to the transformation and modernisation of the public transport sector in the country.



The collaboration with a world-leader brand in this field for the supply of technology and components demonstrates VinFast’s commitment to developing safe, reliable vehicles made in Vietnam with the European quality standards.



VinFast plans to begin production of the eBus by the end of 2019.





 - Will Reeves, photos VinFast

Permanent-URL: http://www.automobilsport.com/vinfast-pioneering-vietnam-automotive-industry---181434.html

02.10.2018 / MaP

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