International suppliers of auto parts express interests in becoming VinFast's partners

VinFast has also established close relationships with many prestigious corporations all over the world such as BMW, Magna Steyr, AVL, EDAG, Pininfarina, ItalDesign, Bosch, Siemens etc. and created an experienced leaders team coming from the world leading automobile production companies.

VinFast is a leading company in Vietnam in cooperation with partners in the supporting industry.

Partiularly, the company has allocated 70 hectares to the project complex in Hai Phong city for suppliers in the first phase and also provided maximum supports for partners in terms of infrastructure and implementation procedures.

"VinFast is not only significant for Vingroup, but also for Vietnam, so together with our partners we are working very hard for the successful implementation of this project," said James DeLuca, CEO of VinFast.

He said, "We also realize the crucial roles of the suppliers in this unique project and cooperation is an essential foundation to further develop our relationship." 

"Therefore, we hope that after the seminar in Germany, the suppliers will become part of the VinFast family," James added.

Many international suppliers have expressed their interests in Vietnam automobile market and especially in VinFast project's great scale of production as well as its historical mission.

A number of suppliers have expressed their wish for long-term cooperation with VinFast through setting up a component factory in the project complex in Hai Phong city.

From the very beginning, VinFast has set a large production target, with the expected capacity of 250,000 cars in the first phase and 500,000 cars in the next phase, becoming the leading car manufacturer in Southeast Asia.

According to industry representatives, by determining to be a large scale production in compliance with international standards, VinFast will have many potential clients. 

Vietnam has been emerging as one of the most potential market for car consumption in the world as currently the car ownership rate of Vietnamese is extremely low, there are only 23 vehicles per 1,000 people, while in Thailand the rate is 204/1,000 and in developed countries, the rate is 400/1,000. 

The rising incomes of Vietnamese, together with increasingly improved infrastructure and attractive demographic characteristics will be the premise for the strong growth of automobile market in near future.

Understanding the demand of the market, Vingroup decided to invest in electric automobile and motorbike production with the aspiration to build a Vietnamese automobile brand with international stature and at the same time develop a leading industry in Vietnam.