At the signing ceremony (Photo: VNA)Hanoi (VNA) – Vingroup subsidiary VinFast has won exclusive rights todistribute Chevrolet vehicles in Vietnam.
VinFastand General Motors (GM) inked a landmark partnership deal on June 28, aiming todrive long-term growth and expansion for GM’s Chevrolet brand and VinFast.
Using Vingroup’s existing retail network nationwide, VinFast will aim to drivethe Chevrolet brand forward while expanding its local operations and leading theVietnamese automotive industry into a new era.
VinFast will assume the ownership of GM’sHanoi factory and implement a significant investment programme to produce all-new,small cars under a GM global license from 2019. The new production line isexpected to add more production capacity for VinFast along with its plant inHai Phong city.
GM will become one of the automotive technology partners of VinFast, openingopportunities for future product sharing and technology transfer.
“We are incredibly excited about the opportunities presented by this landmarkannouncement”, VinFast CEO Jim DeLuca said.
VinFast is working to build an automotive production eco-system, comprisingassembly plants, local automotive suppliers and dealers together with a stringof support industries, he noticed.
He added that as the company is planning to launch a portfolio of five VinFastvehicles in 2019, this strategic partnership is touted as a catalyst to bringits vision to life.
VinFast and GM will work closely to ensure smooth transition for customers,employees, suppliers, dealers and stakeholders. The transfer of GM’s operationin Vietnam, including the Hanoi plant, dealer network and employee base, will takeplace in the end of 2018.-VNA
VNA
