At the event (Source: VNA) Hai Phong (VNA) – Prime Minister Nguyen XuanPhuc attended a ceremony in the northern port city of Hai Phong on September 2to start the construction of the first Vietnamese automobile manufacturingcomplex in Dinh Vu – Cat Hai economic zone.
Invested by Vinfast manufacturing and trade Ltd company - anaffiliate of real estate developer Vingroup, the complex is expected to rollout a five-seater sedan model, a seven-seater sport utility vehicle model, andelectric motorbike meeting European standards during the first stage. Thedesigned capacity is estimated at 100,000 – 200,000 vehicles per year.
Its first product in the next 12 month will be electricmotorbike model while automobiles will be made in the next 24 months.
The complex will cover a site of 335ha with five major workshops.Design of engines and major components will be bought from top European and USdesigners while exterior shape will be designed by famous Italian studios that werebehind luxury cars such as Alfa Romeo, Aston Martin, Audi, Bentley, Jaguar,Porsche, Rolls-Royce, among others.
Vinfast will use advanced and eco-friendly technologies,particularly green energy, to meet Euro 5.0 and Euro 6.0 emission standards.
In order to make itself a leading automobile manufacturer inSoutheast Asia with a designed capacity of 500,000 units by 2025, Vinfastsigned a memorandum of understanding with Credit Suisse AG regarding a loanworth 800 million USD.
Vinfast will also work with Vietnamese partners tomanufacture spare parts, towards raising the rate of locally-made products to60 percent.
Speaking at the event, PM Phuc said the project couldgenerate 20,000 jobs and contribute to the province’s State budget.
The birth of Vinfast complex marks Vietnam’s positionin the map of the world automobile manufacturers, and Vingroup’s foray intoheavy industry apart from its six core areas of real estate,tourism-entertainment, retail, health, education and agriculture.-VNA
Invested by Vinfast manufacturing and trade Ltd company - anaffiliate of real estate developer Vingroup, the complex is expected to rollout a five-seater sedan model, a seven-seater sport utility vehicle model, andelectric motorbike meeting European standards during the first stage. Thedesigned capacity is estimated at 100,000 – 200,000 vehicles per year.
Its first product in the next 12 month will be electricmotorbike model while automobiles will be made in the next 24 months.
The complex will cover a site of 335ha with five major workshops.Design of engines and major components will be bought from top European and USdesigners while exterior shape will be designed by famous Italian studios that werebehind luxury cars such as Alfa Romeo, Aston Martin, Audi, Bentley, Jaguar,Porsche, Rolls-Royce, among others.
Vinfast will use advanced and eco-friendly technologies,particularly green energy, to meet Euro 5.0 and Euro 6.0 emission standards.
In order to make itself a leading automobile manufacturer inSoutheast Asia with a designed capacity of 500,000 units by 2025, Vinfastsigned a memorandum of understanding with Credit Suisse AG regarding a loanworth 800 million USD.
Vinfast will also work with Vietnamese partners tomanufacture spare parts, towards raising the rate of locally-made products to60 percent.
Speaking at the event, PM Phuc said the project couldgenerate 20,000 jobs and contribute to the province’s State budget.
The birth of Vinfast complex marks Vietnam’s positionin the map of the world automobile manufacturers, and Vingroup’s foray intoheavy industry apart from its six core areas of real estate,tourism-entertainment, retail, health, education and agriculture.-VNA
VNA
