VinFast, Vietnam’s first global EV maker, and Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, announced that the two companies are expanding their collaboration agreement to include automotive technology development of electric vehicles (EVs) and delivery of system components. The signing ceremony of the strategic collaboration was held at VinFast’s factory in Haiphong City, Vietnam earlier this month, which was attended by VinFast’s CEO, Le Thi Thu Thuy and Renesas’ CEO, Hidetoshi Shibata.
As part of the newly expanded agreement, Renesas will provide a broader range of products to VinFast, which will include SoCs, microcontrollers, analog and power semiconductors. Renesas will also provide technical support to assist VinFast in developing future automotive applications and mobility services.
By gaining access to Renesas’ leading-edge technologies and expertise in the automotive industry, VinFast will accelerate the development of new EVs and market expansion with the aim to aggressively increase its annual production and sales.
The two companies will regularly share product development roadmaps, market trends and requirements, project implementation progress as well as new cooperation opportunities.
“VinFast is on a course of market expansion worldwide and mass production to ensure the highest vehicle performance and timely delivery to customers” said Le Thi Thu Thuy, Vice Chairwoman of Vingroup and Global CEO of VinFast. “This new partnership with Renesas will give VinFast access to both advanced in-vehicle semiconductor technology as well as high-level system expertise, with the aim to accelerate the development of safe and sophisticated EVs for global markets.”
“We are committed to supporting the local industry in Vietnam through talent development and business expansion. Since founding our design center in Ho Chi Minh City in 2004, we have continued to expand our presence in Vietnam. We also established a second design center in Da Nang this April,” said Hidetoshi Shibata, President and CEO of Renesas. “The collaboration with VinFast reinforces our commitment. We are thrilled to join VinFast’s journey for their global growth beyond Vietnam. By making EVs more widely available, I am convinced we can lead a greener, safer, and more sustainable way of living.”
VinFast and Renesas have previously collaborated on automotive infotainment systems, and Renesas’ SoCs (System-on-Chips), R-Car, and analog products have already been implemented in VinFast’s new VF8 and VF9 EV models.