VinFast Readies Two Luxury Models

Vietnam-based VinFast plans to unveil a pair of production-ready luxury models—a sedan and crossover/SUV—at the Paris auto show in October.

Both vehicles were designed by Italy's Pininfarina SpA and will feature unspecified “German technology,” according to VinFast. The car is said to be about the same size as an Audi A6, while the SUV’s dimensions are comparable to a BMW X5.

VinFast aims to launch the sedan and SUV in the third quarter of 2019. Canada’s Magna International Inc. will provide engineering and technical support for the program. The vehicles will be powered by gasoline engines being developed by Austria’s AVL List GmbH.

VinFast believes it has the resources to become a “significant” player in the global auto industry. The company is targeting annual production of 500,000 vehicles by 2025, with part of the volume to be exported to global markets.

Last month, VinFast signed a deal to take over General Motors Co.’s Hanoi factory and dealer network and employee base in Vietnam. VinFast also is building a $1.5 billion plant in northern Vietnam. The company is led by former GM manufacturing boss James DeLuca.

In addition to the sedan and SUV, VinFast is developing two minicars—including an all-electric model. Both vehicles are being designed by Italdesign Giugiaro SpA.