VinFast, a new manufacturer on the automotive world, has chosen the Paris scene for its first international show. He will present two models and his ambitions.
Except in China, the creation of a new manufacturer has become rare and quite difficult. Attempts have been regular and the example of Qoros is back in the lead. Today, it is therefore VinFast, a Vietnamese manufacturer, who chose the Mondial de Paris to embark on the big bath. He will present a sedan and an SUV, two concepts in front of their line at Pininfarina, whose commercialization will begin in Vietnam in September 2019.
The new brand, owned by Vingroup, a group achieving a turnover of 3.8 billion dollars, ensures the means of its ambitions. ” We have the resources, the scalability and the commitment to become a major player in the global automotive industry , says Jim DeLuca , CEO of VinFast Trading and Production LLC. We are extremely proud to be the first car manufacturer in Vietnam and the first to participate in a major international auto show. We are looking forward to introducing our new brand and two new models in Paris. Our stand will also showcase the best of Vietnam, demonstrating the passion and tenacity we will bring to the global automotive scene . ”
Models that will be produced in a brand new factory under construction in the north of the country. The initial investment would be $ 1.5 billion. While for the moment exports, especially to Europe, are not the priority of this new manufacturer, it has nevertheless taken into account the different global constraints for the future. The technical development of the sedan and SUV will be provided by Magna and the petrol blocks will be provided by the Austrian AVL.
VinFast, which has also bought a factory in Hanoi from General Motors, wants to focus on the local market for the time being, where the car ownership rate is only 23 per 1,000 inhabitants. Beyond the two flags unveiled next October, the brand will manufacture small models under GM license. This will benefit from the announced growth of the Vietnamese market, which should increase from 192,623 units in 2017 (-6.4%) to nearly 500,000 units in 2020.
