Vietnam’s Vinfast signs deal with Siemens for EV tech, components

August 13, 2018 13:14 CET

HANOI — VinFast Trading and Production has signed two contracts with Siemens’ Vietnam unit for the supply of technology and components to manufacture electric buses in the Southeast Asian country.

VinFast, a unit of Vietnam’s biggest private conglomerate, Vingroup JSC, said on Monday the deals will enable it to launch the first electric bus by the end of 2019.

“Electric buses are an essential element of sustainable urban public transportation systems,” Siemens Vietnam President and CEO Pham Thai Lai said.

VinFast will also produce electric motorcycles, electric cars and gasoline cars from its $1.5-billion factory being built in Haiphong City, the company said.

VinFast is increasingly strengthening its ties to European companies as it seeks to establish itself as Vietnam’s first domestic vehicle maker. The manufacturer will use the Paris auto show to raise its global profile by unveiling its first production cars, a sedan and SUV, that have been designed by Italy’s Pininfarina.

In June, General Motors agreed to transfer its Vietnamese operation to VinFast, which will also exclusively distribute Chevrolet cars in Vietnam.

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