Vinfast has established a joint venture with LG Chem to produce battery packs for Vinfast’s currently under-production electric scooters, and in the future for electric cars. Vinfast is a subsidiary of Vingroup – the largest private conglomerate in Vietnam with interests in real estate, retail, healthcare, education and electronics. VinFast was established in 2017 as Vietnam’s first high volume automotive manufacturer. Deliveries for the first Vinfast cars, a large saloon and a large SUV, both designed by Italian car design firm, Pininfarina, are expected to start from September 2019. These will be followed by a city car and a battery electric vehicle, as well as an electric bus, with exports to selected markets worldwide planned in the coming years. All VinFast cars will be manufactured at a 335-hectare plant in Hai Phong which represents an initial USD 1.5 billion investment. This facility will manufacture a range of electric scooters as well as passenger cars.
Under the agreement with LG Chem, Vinfast will be responsible for the construction of warehouses, production lines, personnel and plant operation, while their Korean partner will provide know-how technology as well as staff training and management.
Prior to this partnership, Vinfast has signed a contract with Siemens to supply technology and components for the manufacture of electric buses. In 2018, the Vietnamese company also partnered with the German development service EDAG for overall development of an electric vehicle tailored for the Vietnamese market.
In June 2018, General Motors agreed to transfer its Vietnamese operations including full ownership of its Hanoi factory, dealer network and employee base, to VinFast and distribute Chevrolet cars through the local carmaker.
(Sources: Electrive.com; Vietnam Net; Reuters)
