Vietnamese startup calls on big names

Vietnam is the latest Asian country to join the global automotive fray. A new Vietnamese company – named VinFast – has signed a contract with famed Italian styling studio Pininfarina.

In a sign that the company is quite serious about exporting quality products in large volumes, VinFast has already brought BMW on board to help with designing its first two products – an SUV and a sedan. Bosch has also signed on the dotted line to assist the Vietnamese company.

Pininfarina apparently snagged the deal after elbowing aside rivals Zagato, Torino and Ital.

VinFast has seemingly popped up out of nowhere, but according to the company's Twitter account, it has been formed by VinGroup, a Vietnamese real estate developer. And it's on a recruiting fast track, having hired James De Luca, former Executive Vice-President of Global Manufacturing at General Motors. In an article published by Vietnam Investment Review, the company states it will employ 1000 foreign experts as part of its 25,000-strong workforce.

The company's first products will be a five-seat sedan and a seven-seat SUV, both due to arrive in global markets during 2019. Although the company expects to build internal-combustion models and EVs, it is yet to be revealed whether the first models will be either/or. A debut at the Paris motor show in October this year is planned, and a ground-breaking ceremony for the manufacturing plant was held in September of 2017.

The company anticipates building up to 500,000 units a year by 2025, but in the early stages, production is likely to reach no more than 200,000 units, which would include an electric motorcycle as well as the passenger car and SUV.