VinFast Manufacturing and Trading Company Limited, a subsidiary of Vingroup, completed the contract of two model sedan and SUV cars with leading designer Pininfarina on Thursday.

The contract was worth US$5 million. The models were developed based on two designs selected by Vietnamese consumers in the contest “Choose the car also,VinFast” in October last year.

VinFast has acquired intellectual property rights from automaker BMW for car production.

With co-operation agreements with reputable partners in the field of automotive design and production, VinFast continues its commitment to roll out quality, modern, safe and aesthetic models in the Vietnamese market, on a par with world-class car models.

Earlier, the company also completed a partnership agreement with Magna Steyr and AVL, two of the world’s leading automobile technology and manufacturing consulting firms.

The model cars developed by VinFast, under the slogan “Vietnamese identity — Italian design — German engineering — International standard,” will be exhibited at the Paris Motor Show 2018 to be held in France in October. VinFast will introduce them in Viet Nam in December.

In addition to this, VinFast will organise a vote to gather ideas from customers for new models after it completes production of the sedan and SUV models. The scope of this referendum will be extended to the international audience, affirming pride in the Vietnamese car.

In October last year, VinFast presented 20 sedan and SUV designs and officially launched a public contest to select the two favourite car models in Viet Nam.

Nguyen Viet Quang, deputy chairman of Vingroup, said the firm would begin accepting orders from early 2019, gradually moving to export.

“Born after other automakers, VinFast is keen to filter the essence of the global automobile industry into its first product. We have a process in place to learn and select partners in order to roll out high-quality, safe and modern products that will have Vietnamese identity but international standards.

VinFast is confident of introducing its first two models at the Paris Motor Show, where most of the producers choose to stage their work. This event will also contribute to marking the Vietnamese automobile brand in the international arena,” said Quang.

VinFast is urgently building a 500,000sq.m factory in northern Hai Phong City’s Dinh Vu-Cat Hai Economic Zone, which is planned to be completed by July this year. Along with that, the company also focuses on improving human resources and product development. It has signed contracts with leading companies in the field of design, supplying solutions for car manufacturing, technology, equipment, components and auto parts and training of technicians, such as Bosch, Siemens, Pininfarina, Ital Design, Torino Design, Zagato, BMW, Magna Steyr, AVL and German Chamber of Commerce and Industry in Viet Nam.

These efforts are aimed at accelerating the process of transforming the car from a piece of drawing to reality, confirming the serious investment and commitment of Vingroup to introduce a Vietnamese car with international standards.

VinFast stands for “Viet Nam — Style — Safety — Innovation — Pioneer.”

The VinFast automobile manufacturing complex, the first of its kind in Viet Nam, started construction on September 2 last year in Hai Phong, with a designed capacity of 500,000 units by 2025 and expectation to become the leading automobile manufacturer in Southeast Asia.

VinFast aims to manufacture cars that are a mix of modern style, comfortable quality, safety and international-class design, and are suitable to Vietnamese taste.

Its first products will be available in the market in the third quarter of next year. — VNS