A new Vietnamese car company promises to bring “world-class vehicles” – including electrics, to the global market, starting with an SUV and a sedan.
VinFast will manufacturer its vehicles in northern Vietnam with design input from Italian design houses Pininfarina, ItalDesign and Torino, and a global debut at the Paris Motor Show in October, 2018.
The two models will go on sale in Vietnam in 2019 before executing plans to enter other markets “in coming years”, Just Auto reports.
VinFast concepts penned by ItalDesign.
VinFast concepts penned by ItalDesign.
VinFast will draw on European design, engineering and production partners to meet global quality standards, as well as attracting senior management executives from other leading brands like Bosch to steer the company.
The company already has an alliance signed with General Motors, and a $60 million parts-making joint-operation with Thai manufacturer AAPICO Hitech to build components for VinFast’s production line.
AAPICO specialises in manufacturing stamping parts (including hot-stamping), plastic components, jigs and molds among others, with partnerships in India, Europe, USA, Mexico and China and existing brand alliances with Isuzu, Nissan, Ford, Honda and Mitsubishi.
VinFast Trading and Production chief executive James DeLuca says the new brand on the block has what it takes to stand among the giants.
“We have the resources, scalability and commitment to become a significant new player in the global automotive industry,” DeLuca says.
All-electric, “Made in Vietnam” VinFast cars are coming, electric motorbikes even sooner.
“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,” he says.
“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.
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An electric VinFast motorcyle will go on sale in the next year, with cars to follow in 2020 with a production capacity of up to 200,000 units per year.
Leaders of VinGroup, the parent company of VinFast.
Vingroup chief executive Nguyen Vietnam Quang says it’s vital to have a strategy for EVs.
“Electric cars are the car of the future.
With a pioneering mission and a desire to make a breakthrough in the car market, we decided to produce electric cars at this time,” he says.
VinFast wants to increase the rate of owned vehicles per 1000 people in Vietnam from 23, to similar numbers like 790 per 1000 people in the US.
According to the Vietnam Ministry of Transport, there were around 45 million motorcycles registered in 2016.
