Vietnam’s first homegrown cars ready for delivery

Reading Time: 2 minutes
Vietnam’s First Homegrown Cars Ready For Delivery

Vietnam’s first domestic carmaker VinFast will deliver its first cars on June 17, the company said as it showcased a factory in one of Asia’s fastest growing economies on June 14.

VinFast, a unit of business conglomerate Vingroup, one of the largest company holdings in Vietnam, will kick off sales starting with a hatchback named Fadil initially priced at 394.5 million dong ($16,900). The Fadil is a city car based on the South Korea-built Opel Karl by PSA Group’s Opel brand, which is sold for a starting price of around €12,000 ($13,500) across Europe for a more basic version.

The Fadil will be followed by the more upscale Lux series which will comprise of a sedan and a SUV based on the outgoing BMW 5 and X5 series. There will likely be also a V8 version of the Lux which will be powered by a small block 6.2l-V8 engine by General Motors otherwise used in Camaro and Corvette sports models. The company will also build electric motorbikes under the brand name Klara.

Vingroup said in 2017 it planned to invest up to $3.5 billion in its auto business. VinFast plans to manufacture 250,000 vehicles during a first stage of operations in its assembly plant in the northern port city of Haiphong, with projected production increasing to 500,000 vehicles a year by 2025. Last year, the company said it expects to begin exports in mid-2020.

Overall, VinFast is expecting to launch 12 models of cars and electric motorbikes in 2019 and 2020, the company announced.

However, the vehicles aren’t completely made in Vietnam. The Fadil uses the chassis of the Karl model and a 98hp-General Motors four cylinder engine used in the Chevrolet Spark. The sedan and SUV are built on frames from BMW, designed by Italian design house Pininfarina and have components engineered by Austria’s Magna Steyr and Germany’s car parts maker Robert Bosch. Jim Deluca, the former vice president of global manufacturing for General Motors, was hired as VinFast’s chief executive officer.

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Vietnam's first domestic carmaker VinFast will deliver its first cars on June 17, the company said as it showcased a factory in one of Asia's fastest growing economies on June 14. VinFast, a unit of business conglomerate Vingroup, one of the largest company holdings in Vietnam, will kick off sales starting with a hatchback named Fadil initially priced at 394.5 million dong ($16,900). The Fadil is a city car based on the South Korea-built Opel Karl by PSA Group’s Opel brand, which is sold for a starting price of around €12,000 ($13,500) across Europe for a more basic version. The...

Reading Time: 2 minutes

Vietnam’s First Homegrown Cars Ready For Delivery

Vietnam’s first domestic carmaker VinFast will deliver its first cars on June 17, the company said as it showcased a factory in one of Asia’s fastest growing economies on June 14.

VinFast, a unit of business conglomerate Vingroup, one of the largest company holdings in Vietnam, will kick off sales starting with a hatchback named Fadil initially priced at 394.5 million dong ($16,900). The Fadil is a city car based on the South Korea-built Opel Karl by PSA Group’s Opel brand, which is sold for a starting price of around €12,000 ($13,500) across Europe for a more basic version.

The Fadil will be followed by the more upscale Lux series which will comprise of a sedan and a SUV based on the outgoing BMW 5 and X5 series. There will likely be also a V8 version of the Lux which will be powered by a small block 6.2l-V8 engine by General Motors otherwise used in Camaro and Corvette sports models. The company will also build electric motorbikes under the brand name Klara.

Vingroup said in 2017 it planned to invest up to $3.5 billion in its auto business. VinFast plans to manufacture 250,000 vehicles during a first stage of operations in its assembly plant in the northern port city of Haiphong, with projected production increasing to 500,000 vehicles a year by 2025. Last year, the company said it expects to begin exports in mid-2020.

Overall, VinFast is expecting to launch 12 models of cars and electric motorbikes in 2019 and 2020, the company announced.

However, the vehicles aren’t completely made in Vietnam. The Fadil uses the chassis of the Karl model and a 98hp-General Motors four cylinder engine used in the Chevrolet Spark. The sedan and SUV are built on frames from BMW, designed by Italian design house Pininfarina and have components engineered by Austria’s Magna Steyr and Germany’s car parts maker Robert Bosch. Jim Deluca, the former vice president of global manufacturing for General Motors, was hired as VinFast’s chief executive officer.

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