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Siemens, Vingroup in tech cooperation deal

Binh An
Friday,  Sep 8,2017,16:25 (GMT+7)
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Siemens, Vingroup in tech cooperation deal

Binh An

Duong Thi Mai Hoa of Vingroup and Thai-Lai Pham of Siemens Vietnam shake hands at the MOU signing ceremony in Hanoi on September 7 - PHOTO: SIEMENS

HCMC – Germany’s Siemens and Vietnam’s Vingroup have clinched a memorandum of understanding (MOU) to foster technological cooperation in a number of key industries in the nation, including automotive which the local firm has recently ventured into.

Under the MOU signed in Hanoi on September 7, Vingroup will cooperate with Siemens in applying innovative technologies and solutions to auto manufacturing, building and residential development, and hospital development.

The two sides will also look to cooperate in agriculture and other sectors that Vingroup may foray into in the coming years, according to a statement released by Siemens Vietnam after the MOU signing.

The cooperation with Siemens will support Vingroup to improve the quality of its products and services and make them meet world-class technology standards.

Vingroup is already active in real estate, resort and amusement park, retail, healthcare and agriculture sectors. It has expanded its portfolio into the auto industry with ground broken last week for the VinFast auto complex in the northern city of Haiphong.

Vingroup established VinFast Trading and Production Co Ltd with total chartered capital of VND5.25 trillion (US$231 million) in June this year.

VinFast is envisioned becoming a leading automaker in Southeast Asia with its annual capacity of half a million units by 2025, mostly vehicles using internal combustion engines and batteries, and electric bikes.

In the first phase, VinFast looks to launch a five-seater car model, a seven-seater SUV and an battery-powered motorcycle which would all meet European standards. The total capacity of this phase ranges from 100,000 to 200,000 units a year.

The first electric motorcycle is expected to hit the road in 12 months and the first auto would come off the production line in 24 months.

As for the auto project, Siemens will help Vingroup become a digital enterprise and will also introduce Vingroup to suitable design consultants and engineering, procurement and construction (EPC) contractors for this project.

Siemens said it is currently one of the international partners of the VinFast auto manufacturing project. The two sides will work on advanced plant management and operation system towards Industry 4.0.

In addition, Siemens is committed to organizing a workshop with Vingroup on the latest technology update and training in the aforementioned areas.

Thai-Lai Pham, President and CEO of Siemens Vietnam, told the signing ceremony that Vingroup is one of the major private business groups that has a dynamic development strategy along with great potentials for regional and international integration.

Siemens has got involved in a number of major projects of Vingroup with fruitful results. “Therefore, both parties have decided to enter into this MOU. This is a critical milestone in our cooperation history, and we are fully committed to supporting Vingroup to successfully implement its upcoming projects,” he said.

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

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