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Complete vehicle development for two models
Advanced engineering methods reduce development time to 12 months
Vehicles will be built at the VinFast production plant in Haiphong, Vietnam
SHANGHAI, China, March 29, 2018 (GLOBE NEWSWIRE) — Asia represents one of the strongest growing automotive markets in the world, and Magna 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 Limited 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.
TAGSVinFast, complete vehicle manufacturing, contract manufacturing, contract engineering, Magna Steyr
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com, 905.726.7035
MEDIA CONTACTSTracy Fuerst, Global Director of Corporate Communications & PRtracy.fuerst@magna.com, 248.631.5396
Rej Husetovic, Director Corporate Communications & Media Relations Europerej.husetovic@magna.com, (+49-6093) 9942-5056
ABOUT MAGNAWe have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world’s largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.
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Magna International Inc.