VinFast

VinFast is a LLC private automotive startup manufacturer headquartered in Vietnam which opened in 2017, a member of the conglomerate organization Vingroup.[3][4][5] It is the first Vietnamese car brand attempting to hit global markets.[6]

VinFast
TypeDivision
IndustryAutomotive
FoundedJune 2017; 4 years ago (2017-06)
FounderPhạm Nhật Vượng
Headquarters,
Vietnam
Area served
Vietnam
Key people
Vin Diesel (VP Manufacturing) / Kevin Yardley (Head of Engineering)
Lê Thị Thu Thuỷ (Vingroup Vice Chairwoman) / Roy Flecknell (VP Planning & Programs)/ Kevin Fisher (Chief Engineer)[1]
ProductsAutomobiles
Motorcycles
Commercial vehicles[2]
ParentVingroup
Websitevinfastauto.com

HistoryEdit

 
Key people of VinFast at Paris, 2018 (from left to right): Jim Deluca (CEO VinFast), Lê Thị Thu Thủy (VP Vingroup), David Lyon (design director), David Beckham (brand ambassador).

The company was founded in 2017 by Vingroup.[7] The company designed its models with the help of Pininfarina, BMW and Magna Steyr and participated in the 2018 Paris Motor Show. VinFast claims it will be the first volume automotive manufacturer in Vietnam as well as the first Vietnamese automaker to participate in a major international auto show.

VinFast broke ground in September 2017 on an 828-acre (3,350,000 m2) facility in an industrial park located on Cat Hai Island near the city of Hai Phong. The factory with paint shop, press shop, assembly shop and engine shop was built in just 21 months .[8]The investment is US$1.5 billion in the first phase of a program to make cars and electric motobikes at a greenfield factory on the facilities. The company claimed that it has aggregated talent from multiple established companies and is sourcing European design, engineering, and production technology partners. The first two vehicles that were shown at Paris motorshow in the fall of 2018 are the LUX SA2.0 and the LUX A2.0, designed by Pininfarina.

Additionally, General Motors recently announced a partnership between Chevrolet and VinFast. VinFast will have exclusive rights to distribute Chevys in Vietnam and will take ownership of the existing General Motors (GM Korea) factory in Hanoi (VIDAMCO). That factory will then build a GM-licensed “all-new global small car” to be sold under the VinFast name.[9]

VinFast signed two contracts with Siemens Vietnam, a unit of Siemens AG, for the supply of technology and components to manufacture electric buses in Southeast Asian countries in August 2018.[10]

On March 21, 2019, VinFast has sent the first batch of 155 VinFast Lux cars, 113 are completed vehicles and 42 semi-finished cars, abroad in Europe, Asia, Australia and Africa to conduct field tests for quality testing and to qualify for a 5-star ASEAN NCAP rating.[11]

For the 2020 Vietnamese Grand Prix, VinFast would have been the title sponsor. The race was later cancelled due to COVID-19.[12]

In Q1 2020, VinFast was the fifth best selling car brand in Vietnam.[13]

On February 25, 2020, it was reported that VinFast vehicles were spotted in South Africa for field tests at Kakamas in the Northern Cape Province and in Cape Town.[14]

On July 20, 2020, the company has gone to manufacting ventilators, based on open source information provided through the Massachusetts Institute of Technology (MIT), for patients who have a hard time breathing due to COVID-19 with reported donations made to Singapore, Russia and Ukraine.[15]

On September 10, 2020 VinFast announced that a loss of VND 6.6 trillion ($284 million) in the first half of the year.[16]

In December 2020, VinFast has released preliminary images of a pickup truck being developed weeks after the Lang Lang testing centre was purchased.[17] Other vehicles in development included a three-door hatchback, two different coupe-type SUVs, a small SUV, a four-door coupe, a couple of people movers and electric scooters.[17] According to the Intellectual Property Office of Vietnam, the patents for these vehicles are set to expire on January 14, 2024.[18]

According to Reuters on April 30, 2021, unnamed sources claimed that VinFast planned an SPAC based funding in the United States. VinFast's CEO could neither confirm nor deny these plans.[19] On May 28, 2021, it was reported that the company's IPO will be delayed due to SPAC scrunity.[20]

Overseas OperationsEdit

On July 31, 2018, VinFast has received its certificate of establishment to set up VinFast GmbH in Frankfurt, Germany.[21] The office will be in charge of distributing auto parts and other related services.[21] It was announced in the same day that VinFast will set up branch offices in Shanghai, China and Seoul, South Korea.[21]

In February 2020, ex-Holden engineers are being recruited by VinFast in Port Melbourne, making Australia the second overseas country to have a VF branch after the company moved in December 2019.[22][23] The branch is known as VinFast Engineering Australia, staffed by ex-Ford, Holden and Toyota employees.[24] On June 12, 2020, Vinfast opened its Australian office.[25] On May 6, 2021, the Port Melbourne was announced to be closed due to the COVID-19 pandemic temporarily.[26] The Lang Lang test track is not affected by the closure.[27]

Export PlansEdit

In April 2019, VinFast reported that the Lux SA2.0 and Sedan Lux A2.0 were the first two models introduced to Russia at the end of 2018.[28] According to Auto.Vesti, the models are expected to be sold throughout Russia by the end of 2020.[28] Vuong mentioned that electric vehicles will be sold in the country after 2021.[29]

It was announced in December 2019 that VinFast plans to market electric vehicles to the United States by 2021.[30]

In December 2020, VinFast has reportedly mentioned that the company plans to sell its vehicles in Australia with no date mentioned.[17]

On January 22, 2021, VinFast unveiled three finalized designs of their electric SUV models VF31, VF32, VF33 intended for US, Canada, Germany, France and the Netherlands[19] export markets. Of which, VF32 and VF33 are available in both gasoline and electric engined versions. These vehicles are stated to meet with the NHTSA, Euro NCAP and ASEAN NCAP 5 star-ratings as well as featuring self-driving capabilities thanks to a suite of electronic driver-assist features.[31]

EtymologyEdit

The name VinFast is an abbreviation of Vietnamese words:[7]

  • Việt Nam (Vietnam)
  • Phong cách (Style, Ph=F)
  • An toàn (Safety)
  • Sáng tạo (Creativeness)
  • Tiên phong (Pioneer)

ProductsEdit

AutomobilesEdit

VinFast announced their first two models, the LUX A2.0 and the LUX SA2.0, at the 2018 Paris Motor Show. Both models are based on previous generation BMW products with various changes and enhancements, including the extensive redesign of the chassis to meet future international safety standards. Both will come in rear-wheel drive and all wheel drive, and both will be powered by the licensed BMW N20 turbocharged petrol engine in 175 bhp and 227 bhp options. Comprehensive reliability and safety testings have been completed. Production of both models started in 2019.[32][33]

LUX A2.0Edit

The LUX A2.0 is an executive sedan, based on the F10 BMW 5 Series.[32][34]

LUX SA2.0Edit

The LUX SA2.0 is a mid-size luxury Crossover, based on the F15 BMW X5.[32][34]

PresidentEdit

The VinFast President was unveiled in September 2020. It is a V8 version of the LUX SA2.0, selling as a 500 unit limited-edition, at a price of VND 4.6 billion and featuring additional luxury features over the model it is based on.[35] The President is understood to have a GM-sourced LS3 V8 engine.[36]

FadilEdit

The Fadil is a city car which was presented to the public later. It is based on the Opel Karl.[37] It will be priced under 500 million VND (US$21,500).[38][39] The first Fadils from regular production were finished on June 14, 2019,[40] delivery to the first pre-order customers took place on June 17.[41] The price of the Fadil in Vietnam is 394,500,000 (US$16,900).[42]

Electric AutomobilesEdit

VF e34Edit

The VF e34[43] (formerly known as VF 31) measures 169 in (4,300 mm) in length. It comes with a single electric motor, rated at 114 hp in standard guise and 201 hp as an option. The battery here is a 42-kwh unit with a claimed range of 300km. The front-wheel drive VF e34 is powered by a 110kW/242Nm electric motor.[44]

VF32Edit

The VF32 is 187 in (4,700 mm) in length. The 402-hp dual-motor powertrain is an available option. The standard option is a single electric motor rated at 201 hp. The battery here is a 90-kwh unit.[44]

VF33Edit

The VF33 has a length of 201 in (5,100 mm) and a dual-motor powertrain generating a combined 402 horsepower. The battery is a 106-kilowatt-hour unit that Vinfast estimates will deliver over 300 miles of range.[44]

Electric scootersEdit

VinFast has planned to produce seven different electric motorcycle models by 2019. It has signed agreements with state owned petrol distributor PV Oil to have charging stations built at existing gas stations.[45]

KlaraEdit

The Klara is VinFast's first electric motorcycle model launched in November 2018. It has a range of 80 kilometres (50 mi) and a maximum speed of 50 kilometres per hour (31 mph). VinFast signed an agreement with Bosch for the supply of components.[45] The batteries are supplied by a joint venture with LG Chem.[46]

Two versions of the Klara are sold, featuring lead acid and lithium ion batteries respectively. The Klara features 3G and bluetooth connectivity to allow remote lock and unlock and tracking.[47]

LudoEdit

ImpesEdit

Klara SEdit

TheonEdit

Theon is equipped with a mid-engine and chain transmission system with a power of up to 7,100W. It can reach a power of 9,000W equivalent to 12 horsepower and a maximum torque of 22.27Nm, accelerate from 0 to 50 km per hour in just six seconds and reach a maximum speed of 90 km/h.

FelizEdit

Production facilitiesEdit

VinFast operates a 335 hectares (1.29 sq mi) greenfield factory at Cat Hai Island, Hai Phong. The factory produces, cars, motorbikes and parts for either of them.[48] In 2017, VinFast also acquired GM Vietnam's Hanoi factory (VIDAMCO).[49]

In September 2020, VinFast purchased the Lang Lang Proving Ground in Australia from General Motors.[50] Vinfast purchased the former Holden proving ground for $30 million and settled on the purchase on November 2.[51]

ControversyEdit

On May 2021, VinFast reported one of its customers, Tran Van Hoang, a Vietnamese YouTuber, to the police over comments that the customer made on his YouTube video about the quality of his VinFast Lux A2.0 car. VinFast claimed that the video contained "untrue content" that "affected the reputation" of the company.[52] On the video, Hoang complained about faults in the tire pressure sensor, the windshield wipers, the wireless phone charger, squeaking doors, and he also complained about his experience with the dealer.[53] The company said it will do the same to US critics when it enters the North American car market.[52]

See alsoEdit

ReferencesEdit

  1. ^ Ánh Dương (2 October 2018). "'Nữ tướng VinFast' Lê Thị Thu Thủy: Mục tiêu của VinFast là trở thành thương hiệu toàn cầu" ['VinFast Chairwoman' Lê Thị Thu Thủy: VinFast's goal is to become a global brand] (in Vietnamese). VietnamBiz. Retrieved 25 October 2018.
  2. ^ "VinFast looks for electric motorcycle distributors". VNS. VinGroup. 24 July 2018. Retrieved 25 October 2018.
  3. ^ "Constructeur". Paris Motor Show. Archived from the original on 3 April 2020. Retrieved 25 October 2018.
  4. ^ Lucas Raheriarivony (10 September 2018). "Vinfast: L'énigmatique marque vietnamienne sera au Mondial" [Vinfast: The enigmatic Vietnamese brand will be at the World] (in French). Auto News. Retrieved 25 October 2018.
  5. ^ "Le constructeur vietnamien VinFast dévoile ses deux premiers modèles de voitures" [Vietnamese manufacturer VinFast unveils first two car models] (in French). Le Progrès. 1 September 2018. Retrieved 25 October 2018.
  6. ^ VnExpress. "VinFast eyes global market, to open car plant in US - VnExpress International". VnExpress International – Latest news, business, travel and analysis from Vietnam. Retrieved 13 March 2021.
  7. ^ a b Lê Ngà (28 September 2018). "VinFast - những bước chạy 'thần tốc'" [VinFast - steps to 'speed'] (in Vietnamese). VietnamFinance. Retrieved 25 October 2018.
  8. ^ "The first fully digital automotive factory in South East Asia".
  9. ^ "GM forms partnership with Vietnam's VinFast". Financial Times. 28 June 2018. Retrieved 25 October 2018. (subscription required)
  10. ^ Khanh Vu; Himani Sarkar (13 August 2018). "Vietnam's Vinfast in deal with Siemens for technology to make electric buses". Reuters. Retrieved 25 October 2018.
  11. ^ "VinFast tests its first 155 LUX cars abroad". Việt Nam News.
  12. ^ "VinFast to be title sponsor of Vietnam Grand Prix". Pitpass. 15 October 2019.
  13. ^ "Auto newbie VinFast zooms to fifth place in sales - VnExpress International". VnExpress International.
  14. ^ Parker, Sean. "SPOTTED | Vietnamese carmaker VinFast tests new SUV in SA". Wheels.
  15. ^ "Unlikely Story of First 'Made in Vietnam' Ventilators to Fight COVID-19 | Voice of America - English". www.voanews.com.
  16. ^ "Carmaker VinFast posts $284 mln loss - VnExpress International". VnExpress International – Latest news, business, travel and analysis from Vietnam.
  17. ^ a b c "Vietnam's Vinfast working on a double-cab ute". Stuff. 16 December 2020.
  18. ^ "Vinfast to manufacture pick-up trucks". THE VOICE OF VIETNAM. 11 December 2020.
  19. ^ a b "Vietnam's answer to Tesla has U.S. in its electric sights". Reuters. 30 April 2021. Retrieved 1 May 2021.
  20. ^ US IPO of VinFast could be delayed due to scrutiny over SPAC
  21. ^ a b c "VinFast German subsidiary gets license, Korea, China next - VnExpress International". VnExpress International – Latest news, business, travel and analysis from Vietnam.
  22. ^ "Vietnam's VinFast enters Australia, eyes Holden assets - paultan.org". 28 February 2020.
  23. ^ "Holden targeted by Vietnamese start-up". 25 February 2020.
  24. ^ "Holden's sacked workers could be saved by VinFast". WhichCar.
  25. ^ "GRAND OPENING OF VINFAST'S OFFICE IN AUSTRALIA". VinGroup.
  26. ^ VinFast closing Port Melbourne design and engineering office, but former Holden test track safe
  27. ^ VinFast to temporarily close Australian R&D division due to COVID-19
  28. ^ a b VIR, Vietnam Investment Review- (8 April 2019). "VinFast automobiles to be sold in Russia". Vietnam Investment Review - VIR.
  29. ^ "VinFast aiming to sell electric vehicles in the US, Europe, Russia by 2021 - founder to invest US$2 bil - paultan.org". 16 December 2019.
  30. ^ "Vietnam's richest man bets US$2bil to sell cars to US | The Star". www.thestar.com.my.
  31. ^ "Vietnam's Vinfast reveals trio of electric SUVs, including 2 for US".
  32. ^ a b c Hilton Holloway (2 October 2018). "Vinfast to launch Lux A2.0 and Lux AS2.0 saloon and SUV". Autocar. Retrieved 25 October 2018.
  33. ^ Williams2019-09-11T13:19:00+01:00, Marcus. "VinFast ramps up production in Vietnam". Automotive Logistics.
  34. ^ a b Matthew H Tong (10 March 2018). "VinFast LUX A2.0 sedan and LUX SA2.0 SUV debut in Paris – BMW-based models to go on sale in June 2019". Paul Tan's Automotive News. Retrieved 25 October 2018.
  35. ^ "VinFast enters luxury segment with new SUV - VnExpress International". VnExpress International.
  36. ^ "2021 Vinfast President: What is Vinfast?". CarExpert.com.au.
  37. ^ Luca Ciferri (29 September 2018). "Vietnam's VinFast taps European suppliers to become a global player". Automotive News Europe. Retrieved 25 October 2018.
  38. ^ Ngọc Tuấn (10 November 2018). "Mẫu ôtô thứ ba của VinFast lộ diện, mang tên Fadil" [The third car model of VinFast is revealed, named Fadil] (in Vietnamese). VnExpress. Retrieved 7 March 2019.
  39. ^ "VinFast Fadil, mẫu ô tô giá rẻ có giá dưới 500 triệu đồng ra mắt vào 20/11" [VinFast Fadil, a low-cost car model priced at under VNĐ500 million, was launched on 20 November]. VTC News. MSN. 10 November 2018. Retrieved 7 March 2019.
  40. ^ "Vietnam's foray into auto manufacturing comes at a cost". The National.
  41. ^ "VinFast Starts Production Of Two Cars Designed By Pininfarina At Its New Plant - NDTV CarAndBike". CarAndBike.
  42. ^ "$17,000 Hatchback From Vietnam Rolls Out to Take on Ford and Toyota". Bloomberg.com. 14 June 2019. Retrieved 4 October 2020.
  43. ^ https://www.motoring.com.au/vinfast-vf-e34-electric-car-launched-129128/
  44. ^ a b c "Vietnam's Vinfast reveals trio of electric SUVs, including 2 for US". Motor Authority. Retrieved 24 March 2021.
  45. ^ a b Ha Vy (3 November 2018). "Vinfast launches electric motorcycle". Vietnam Investment Review. Retrieved 7 March 2019.
  46. ^ Dylan Pastoor. "Vinfast and the Electric Vehicle Market in Vietnam" (PDF).
  47. ^ chuyengiaphaxe. "VinFast ra mắt xe tay ga điện Klara - pin Lithium-ion, 3G, GPS, bán ra tháng này". Tinhte.vn.
  48. ^ "Auto industry seeks to develop components segment". Retail News Asia. 18 November 2020. Retrieved 7 December 2020.
  49. ^ "GM forms partnership with Vietnam's VinFast". Financial Times. (subscription required)
  50. ^ Holden’s Lang Lang proving grounds sold to Vietnamese start-up VinFast, GMSV to continue testing on site The West Australian September 9, 2020
  51. ^ "Vinfast settles on Lang Lang proving ground with $30m purchase price". CarExpert.com.au.
  52. ^ a b Pearson, James (4 May 2021). "Vietnam's VinFast reports customer to police after 'untrue' YouTube complaints". Reuters. Archived from the original on 8 May 2021. Retrieved 8 May 2021.
  53. ^ "Vietnam's VinFast Reports Owner To Police For "Untrue" Criticisms About His Car In YouTube Video". Carscoops. 7 May 2021. Archived from the original on 8 May 2021. Retrieved 8 May 2021.

External linksEdit