At the signing ceremony (Photo: VNA)

Hanoi (VNA) – Vingroup subsidiary VinFast has won exclusive rights to distribute Chevrolet vehicles in Vietnam.

VinFast and General Motors (GM) inked a landmark partnership deal on June 28, aiming to drive long-term growth and expansion for GM’s Chevrolet brand and VinFast.

Using Vingroup’s existing retail network nationwide, VinFast will aim to drive the Chevrolet brand forward while expanding its local operations and leading the Vietnamese automotive industry into a new era.

VinFast will assume the  ownership of GM’s Hanoi factory and implement a significant investment programme to produce all-new, small cars under a GM global license from 2019. The new production line is expected to add more production capacity for VinFast along with its plant in Hai Phong city.

GM will become one of the automotive technology partners of VinFast, opening opportunities for future product sharing and technology transfer.

“We are incredibly excited about the opportunities presented by this landmark announcement”, VinFast CEO Jim DeLuca said.

VinFast is working to build an automotive production eco-system, comprising assembly plants, local automotive suppliers and dealers together with a string of support industries, he noticed.

He added that as the company is planning to launch a portfolio of five VinFast vehicles in 2019, this strategic partnership is touted as a catalyst to bring its 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 operation in Vietnam, including the Hanoi plant, dealer network and employee base, will take place in the end of 2018.-VNA