First Vietnamese car maker will present two cars in October before sales kick off in the domestic market next year.
19 Jul 2018 | 4304 Views | By Sam Sheehan, Autocar UK
Two striking Pininfarina-designed cars set to be produced by Vietnam's first car maker will be revealed at the Paris Motor Show in October before they reach roads in 2019.
New company Vinfast's new SUV and saloon models will initially go on sale in its domestic market, but both are intended to be sold globally eventually.
Vinfast chose the designs of its new cars after a public vote, which offered 20 designs from several design houses. After 62,000 votes, Pininfarina's models won.
Vinfast plans to launch its first car in September 2019 and has ambitions of building 500,000 units by 2025. More models are planned, although no details have yet been released.
“We have the resources, scalability and commitment to become a significant new player in the global automotive industry,” James DeLuca, CEO of Vinfast, said. “We are immensely proud to be the first volume automotive manufacturer in Vietnam and the first to participate in a major international motor show."
Vinfast started construction of a 335-hectare plant in Hai Phong, northern Vietnam, in September 2017. The company said it is one of Vietnam’s biggest industrial projects and the plant 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,” said 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.