News from Haiphong, Vietnam. ZF’s first plant in Vietnam officially opened: Based on a localized operation strategy, ZF established a production base for a new Vietnamese customer in Hai Phong, Vietnam. The base is located in the VinFast automobile and electric motorcycle production complex, close to the island of Kyrgyzstan on the north coast of Vietnam, producing a ready-to-assemble axle product for a local car manufacturer. Currently, ZF has invested more than 25 million euros in the production base.
Vietnam is one of the fastest growing auto markets in Southeast Asia. In order to meet the needs of new customers, ZF has taken the first step into the Vietnamese automotive market through the strategic layout of its coastal defense plant. In 2017, VinFast, Vietnam’s first major automaker, was formed and ZF became one of its major chassis technology suppliers. ZF’s board member Michael Hankel said at the opening ceremony of the Haiphong factory: “This cooperation provides a rare opportunity for ZF to enter a new market. It is a great honor to be in Haiphong and VinFast. Join hands on this journey.”