The consensus followed a memorandum of understanding (MoU) inked between the two sides in Hanoi on September 7.

Representatives of Vingroup and Siemens shaking hands after signing the MoU 

The two sides will also consider collaborating closely in agriculture and other various industries that Vingroup may expand into in the future.

“This cooperation will bring many opportunities breadth-wise and depth-wise for both parties, especially at this particular point when Vingroup is expanding its business toward industries that support sustainable development and apply state-of-the-art and green technologies,” CEO of Vingroup Duong Thi Mai Hoa said at the MoU signing ceremony.

Notably, Siemens will support Vingroup to become a digital enterprise and also recommend and introduce Vingroup to suitable design consultants and engineering, procurement and construction contractors for a special automobile project.

Currently, Siemens is one of the international partners of the VinFast automobile manufacturing complex, construction of which is underway at the Dinh Vu-Cat Hai Economic Zone in the northern port city of Hai Phong. Accordingly, the two sides will join force to work on advanced plant management and operation system towards Industry 4.0.

Invested by Vinfast manufacturing and trade company - an affiliate of Vingroup, the complex is expected to roll out a five-seater sedan model, a seven-seater sports utility vehicle model and an electric motorbike meeting European standards during the first stage.

The designed capacity is estimated at 100,000-200,000 vehicles per year. Its first product in the next 12 months will be the electric motorbike model, while the automobiles will be manufactured in the next 24 months.

Source: VNA