VinFast LLC is a Vietnamese-founded, Singaporean-based private automotive company. Established in 2017, it is a member of the conglomerate organization Vingroup, one of the largest private conglomerate in Vietnam that was founded by Phạm Nhật Vượng. It is the first Vietnamese car brand to expand into global markets as well as the first to expand into producing EVs such as electric cars and electric scooters. History The company was founded in 2017 by Vingroup. The company designed its models with the help of Pininfarina, BMW and Magna Steyr and participated in the 2018 Paris Motor Show. VinFast claims it will be the first volume automotive manufacturer in Vietnam as well as the first Vietnamese automaker to participate in a major international auto show. VinFast broke ground in September 2017 on an facility in an industrial park located on Cat Hai Island near the city of Hai Phong. The factory with paint shop, press shop, assembly shop and engine shop was built in just 21 months . The investment is US$1.5 billion in the first phase of a program to make cars and electric motorbikes at a greenfield factory on the facilities. The company claimed that it has aggregated talent from multiple established companies and is sourcing European design, engineering, and production technology partners. The first two vehicles that were shown at Paris motorshow in the fall of 2018 are the LUX SA2.0 and the LUX A2.0, designed by Pininfarina. Additionally, General Motors recently announced a partnership between Chevrolet and VinFast. VinFast will have exclusive rights to distribute Chevys in Vietnam and will take ownership of the existing General Motors (GM Korea) factory in Hanoi (VIDAMCO). That factory will then build a GM-licensed "all-new global small car" to be sold under the VinFast name. VinFast signed two contracts with Siemens Vietnam, a unit of Siemens AG, for the supply of technology and components to manufacture electric buses in Southeast Asian countries in August 2018. On 21 March 2019, VinFast has sent the first batch of 155 VinFast Lux cars, 113 are completed vehicles and 42 semi-finished cars, abroad in Europe, Asia, Australia and Africa to conduct field tests for quality testing and to qualify for a 5-star ASEAN NCAP rating. VinFast would have been the title sponsor of the inaugural edition of the Formula One Vietnamese Grand Prix, which was due to take place during the season. The race was later