During the visit of Prime Minister Nguyen Xuan Phuc on May 13th to the complex of Vinfast located at Cat Hai island, Hai Phong city, Vingroup reported to the Prime Minister that the conglomerate will introduce its very first electronic motorcycle in the third quarter of 2018.
In the second quarter of 2019, its sedan five seats and SUV seven seats automobiles will be released.
Vinfast will also produce electric buses projected to be launched by the end of 2019 contributing to improving the quality and public transport system in Vietnam.
After eight months of construction, the automobile and electronic motorcycle manufacturing complex of Vinfast has been completed, which is expected to officially operate in June 2018.
Vinfast automobile manufacturing complex is built on Cat Hai island, Hai Phong city in a 335 hectare area, with the total investment capital for the whole factory up to $3.5 billion.
This project includes automobile and motorcycle assembly factory; parts and accessories manufacturing plant; painting and finishing section; distribution area; yards, logistic centers; test site and test runway.
According to the report of Vingroup, Vinfast can produce 250,000 cars, 500,000 motorcycles and electronic automobiles annually. This conglomerate aims to export their cars in the period of 2020 to 2025.
Vinfast has negotiated and wrapped up the contract with world-renowned partners to supply it with production lines, equipment and machinery for five workshops such as stamping workshop, painting workshop and assembly workshop.
Eight components factories are in the phase of signing contracts and designing workshops, of which four of them are invested by Vinfast, two are joint-ventures and two are entirely funded by supplier.
Especially, in order to increase the localization rate of products, Vinfast spent about 30 percent of the complex area to establish a localization zone, calling on investors to focus on manufacturing component, car accessories, motorcycles.
Vinfast committed that it will introduce some new automobile brands to the market after one year of operation, increasing the localization rate to 60 percent.
Prime Minister Nguyen Xuan Phuc believes that Vinfast will be successful and he urges ministries, branches and Hai Phong city to support Vinfast in achieving its goals.