A brand-new Vietnamese car company, VinFast, is developing its own range of world-class vehicles to be produced at an all-new state-of-the-art manufacturing facility in northern Vietnam. Spearheading the company’s launch, a SUV and a sedan – both developed by Pininfarina – will be given their public debut at the Paris Motor Show in October 2018.
With Vietnamese spirit, Italian design and German technology, the two models have been developed to international standards after the Vietnamese people voted on their favourite design from a range of options presented in October 2017. VinFast’s participation at the 2018 Paris Motor Show will significantly raise the profile of the brand and these two models ahead of the start of sales in Vietnam in September 2019.
In addition to the cars being presented in Paris, VinFast is rapidly developing other vehicles and the company is planning to export to foreign markets in the coming years.
As a proud Vietnamese business with a truly global outlook, VinFast is working with world-leading European design, engineering and production technology partners to create products that meet international standards and customer expectations in terms of design, quality, dynamics, premium in-car features and the ownership experience.
VinFast has also recruited senior executives from some of the industry’s leading automotive companies. As a newcomer to the automotive industry, this investment builds a strong foundation to ensure VinFast can build a highly successful automotive business from scratch within a remarkably short timescale.
VinFast is at an advanced stage of constructing a purpose-built, state-of-the-art 335-hectare plant in Hai Phong, northern Vietnam. It is one of Vietnam’s biggest industrial projects ever, with ground-breaking starting in September 2017. The ultra-modern facility will employ world-class production equipment and processes to ensure its output meets the most exacting international standards.
“We have the resources, scalability and commitment to become a significant new player in the global automotive industry,” comments James DeLuca, CEO of VinFast Trading and Production LLC. “We are immensely proud to be the first volume automotive manufacturer in Vietnam, and the first to participate in a major international motor show. We look forward to introducing our new brand and two new models in Paris. Our show stand will also prominently feature the best of Vietnam, demonstrating the passion and tenacity that we will bring to the global automotive stage.”
VinFast is a subsidiary of Vingroup, one of Vietnam’s largest privately-held businesses, with annual revenues in 2017 of 3.8 billion USD. The group, which celebrates its 25th anniversary this year, is a leader in the Vietnamese construction and real estate sectors, and also has major interests in the country’s education, healthcare, agriculture, tourism and consumer retail sectors. VinFast will echo the values of its parent – to bolster the industrial development of Vietnam, continue to spearhead the modernisation of the country, and improve the lives of the Vietnamese people.