Asia represents one of the strongest growing automotive markets in the world, and Magna International has further strengthened its presence in the region through a cooperation agreement to provide complete vehicle engineering and development services for VinFast Manufacturing and Trading Company of Vietnam.

Magna's complete vehicle team has responsibility for the full vehicle development of two new VinFast models, an SUV and a sedan. By using validated virtual engineering methods, Magna is able to support development of the vehicle platform in only 12 months.

"This is a great example of how our experience with complete vehicles positions us to support new entrants in the automotive industry," said Günther Apfalter, president, Magna International Europe & Magna Steyr. "We are pleased to use our unique capabilities as a full-service mobility technology company to help VinFast create vehicles which meet and exceed global standards."

In addition to complete vehicle development, the scope of the project includes a feasibility study, testing and validation of the vehicles, and support through the vehicle launch process. The vehicles will be built at the new VinFast production plant in Haiphong, a major port city in northeastern Vietnam.

The first two VinFast models will be introduced at the Paris Motor Show in October 2018, which will also mark the debut of the VinFast brand on the international stage.