Magna partners with VinFastVietnam - The companies are working together on the development of two new VinFast models - an SUV and a sedan. Magna is providing complete engineering and development services for the Vietnamese OEM.

"This is a great example of how our experience with complete vehicles positions us to support new entrants in the automotive industry," commented Günther Apfalter, president of Magna International Europe & Magna Steyr. "We are pleased to use our unique capabilities as a full-service mobility technology company to help VinFast create vehicles which meet and exceed global standards."

As well as vehicle development and engineering services, Magna is also carrying out a feasibility study, testing and validation of the vehicles.

The two models will be built at the VinFast plant in Haiphong - a port city situated in northeastern Vietnam, close to the capital city Hanoi. They will make their world debut at the 2018 Paris Motor Show.