Vietnam’s VinFast in deal with Siemens for technology to make electric buses
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VinFast Trading and Production LLC has signed two contracts with Siemens Vietnam, a unit of Siemens AG.
The contracts involve the supply of technology and components to manufacture electric buses in the Southeast Asian country.
VinFast, a unit of Vietnam’s biggest private conglomerate, Vingroup JSC, said on Monday the deals will enable it to launch the first electric bus by the end of 2019.
“Electric buses are an essential element of sustainable urban public transportation systems,” Siemens Vietnam President and CEO Pham Thai Lai said in the statement.
VinFast will also produce electric motorcycles, electric cars and gasoline cars from its $1.5-billion factory being built in Haiphong City, it said.
In June, General Motors Co agreed to transfer its Vietnamese operation to VinFast, which will also exclusively distribute GM’s Chevrolet cars in Vietnam.
Questions & Answers
Q.What is the purpose of the contracts signed between VinFast and Siemens Vietnam?
What is the purpose of the contracts signed between VinFast and Siemens Vietnam?
The contracts are for Siemens Vietnam to supply technology and components to VinFast. This equipment will be used by VinFast to manufacture electric buses in Vietnam.
Q.When does VinFast expect to launch its first electric bus?
When does VinFast expect to launch its first electric bus?
VinFast stated on Monday that these deals with Siemens Vietnam will allow the company to launch its first electric bus by the end of 2019, according to the article.
Q.What other types of vehicles will VinFast produce at its factory?
What other types of vehicles will VinFast produce at its factory?
In addition to electric buses, VinFast's $1.5-billion factory in Haiphong City will produce electric motorcycles, electric cars, and gasoline cars.
Q.What was the agreement made between VinFast and General Motors Co. In June?
What was the agreement made between VinFast and General Motors Co. In June?
In June, General Motors Co. Agreed to transfer its Vietnamese operation to VinFast. VinFast will also become the exclusive distributor of GM's Chevrolet cars within Vietnam.
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