VinFast Trading and Production LLC has signed two contracts with Siemens Vietnam, a unit of Siemens AG, for the supply of technology and components to manufacture electric buses in the Southeast Asian country. VinFast, a unit of Vietnam's biggest private conglomerate, Vingroup JSC, said on Monday the deals will enable it to launch the first electric bus by the end of 2019.
Also Read: Vietnamese Carmaker VinFast To Unveil SUV And Sedan At The 2018 Paris Motor Show
"Electric buses are an essential element of sustainable urban public transportation systems," Siemens Vietnam President and CEO Pham Thai Lai said in the statement.
VinFast will also produce electric motorcycles, electric cars and gasoline cars from its $1.5-billion factory being built in Haiphong City, it said.
Also Read: Pininfarina Develops Two Cars For Vietnamese Carmaker VinFast
In June, General Motors Co agreed to transfer its Vietnamese operation to VinFast, which will also exclusively distribute GM's Chevrolet cars in Vietnam.
(Reporting by Khanh Vu; Editing by Himani Sarkar)
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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