VINFAST AND NXP COLLABORATE ON DEVELOPING THE NEXT GENERATION OF SMART ELECTRIC VEHICLES

Rhea-AI Summary

At CES 2023, VinFast announced a collaboration with NXP Semiconductors to develop next-generation automotive applications. This partnership aims to create smarter, cleaner, and connected electric vehicles by utilizing NXP's processors, semiconductors, and sensors. The collaboration will streamline VinFast's product development and leverage NXP's extensive ecosystem, enhancing market rollout for electric vehicles. The venture also supports VinFast's integration with Vingroup's broader ecosystem, benefiting connected services across various sectors.

Positive

• Collaboration with NXP enhances VinFast's technology stack for electric vehicles.
• Access to NXP's robust partner ecosystem accelerates time to market.
• Joint development leverages NXP's semiconductor solutions for safer and smarter mobility.

Negative

• None.

LAS VEGAS, Jan. 6, 2023 /PRNewswire/ -- At this year's CES exposition, VinFast and NXP^® Semiconductors have announced their collaboration on VinFast's next-generation of Automotive applications. The collaboration supports VinFast's goal in developing smarter, cleaner and connected electric vehicles.

Under the collaboration, VinFast seeks to leverage NXP's processors, semiconductors and sensors. VinFast and NXP will engage in the early development phases of new VinFast automotive projects, leveraging NXP's rich portfolio of system solutions for innovative applications.

Additionally, NXP will share its robust partner ecosystem with VinFast, bringing its top-notch solutions to accelerate time-to market,Together the companies will establish a joint, expert collaboration dedicated to developing solutions based on NXP's renowned reference evaluation platforms and software layers with the purpose of designing and building leading-edge electric vehicles.

As a member company of Vingroup, the largest conglomerate in Vietnam, the collaboration between VinFast and NXP will realize the group's ecosystem of product and services to leverage cross-over group connected benefits for its customers. As such, other companies in the group will also be able to leverage NXP's smart solutions to advance their Smart City applications.

Madam Le Thi Thu Thuy, Vingroup Vice Chairwoman and CEO of VinFast Holdings shared: "Our collaboration with NXP will help streamline our next-generation designs, technology, and manufacturing. Our future all-electric vehicle fleet will leverage NXP's innovative, high quality semiconductor solutions to enable safe, secure and electric mobility as well as IoT solutions that remove barriers for the citizens of today's smart cities."

"We are excited to collaborate with VinFast, a company that is well positioned to identify and take advantage of the opportunities at the crossroads of automotive and Smart Cities," said Lars Reger, CTO, NXP Semiconductors." "We look forward to bringing our strong portfolio, expertise and ecosystem to a relationship based on inspiring and shared future vision."

With the aim of expansive and rapid global market rollout and a vision for next-generation cities, this collaboration marks an important milestone in the journey of developing a smarter, cleaner and connected world for all.

About Vingroup

Established in 1993, Vingroup is one of the leading private conglomerates in the region, and currently focuses on three main areas: Technology and Industry, Services, and Social Enterprise. Find out more at: https://www.vingroup.net/en.

About VinFast

VinFast - a member of Vingroup – envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.

Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at: https://vinfastauto.com.

About NXP Semiconductors

NXP Semiconductors N.V. (NASDAQ: NXPI) enables a smarter, safer and more sustainable world through innovation. As a world leader in secure connectivity solutions for embedded applications, NXP is pushing boundaries in the automotive, industrial & IoT, mobile, and communication infrastructure markets. Built on more than 60 years of combined experience and expertise, the company has approximately 31,000 employees in more than 30 countries and posted revenue of $11.06 billion in 2021. Find out more at www.nxp.com.

NXP and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. All rights reserved. © 2022 NXP B.V.

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SOURCE VinFast Automotive

FAQ

What is the collaboration between VinFast and NXP Semiconductors about?

VinFast collaborates with NXP Semiconductors to develop smart, cleaner electric vehicles using advanced semiconductor technology.

When was the collaboration between VinFast and NXP announced?

The collaboration was announced on January 6, 2023, at the CES exposition.

How will the VinFast and NXP partnership impact electric vehicle development?

The partnership will streamline product development for electric vehicles, leveraging NXP's technology and ecosystem.

What technology will VinFast leverage from NXP?

VinFast will utilize NXP's processors, semiconductors, and sensors for their next-generation automotive applications.

What are the potential benefits of the VinFast and NXP collaboration?

The collaboration aims to accelerate time to market and enhance the safety and security of electric vehicles.