VinFast- An Phat Bioplastics Auto Part Limited Company (VAPA) was born with the main goal of supplying spare parts and plastic components for the production of VinFast cars and motorcycles and the next phase will be expanded to other customers.
Opportunity to buy Vietnamese cars
VAPA represents the collaborative effort of An Phat Holdings and VinFast to develop the car and motorbike support industry, improve the localization rate. This is also an opportunity to reduce costs, shorten production time, increase the opportunity to buy domestic cars and motorcycles for Vietnamese people.
According to Mr. Do Huu Hao, former Deputy Minister of Industry and Trade, Chairman of Vietnam Automobile Engineers Association, Vietnam currently has about 30 million cars, equivalent to about 20 cars per 1,000 people. In Thailand, this number is 204 cars per 1,000 people, while in the US is 790 cars per 1,000 people. This shows that, in a country of more than 90 million people, Vietnam is a potential market for the development of the automotive industry.
Experts assess, the handshake of VinFast and An Phat is considered timely. VAPA is the perfect combination based on the advantages of each side. At VAPA, An Phat will take advantage of its strengths in the plastic manufacturing industry, especially the auxiliary plastic industry to ensure product quality and supply while VinFast will ensure the output for VAPA.
The birth of VAPA will create momentum for many Vietnamese enterprises to participate deeply in the network of enterprises supplying components for manufacturing and assembling automobiles in Vietnam, especially the issue of raising the gray matter content of Vietnamese people in high-tech products, increasing localization rate.
The capacity of VAPA
VinFast – An Phat Bioplastics Auto Part Limited Company (VAPA) was established in November 2018. The headquarter is located at the plastic molding factory, belonging to VinFast automobile manufacturing complex, Dinh Vu – Cat Hai Economic Zone, Hai Phong City. The main business of VAPA is producing spare parts and accessories for cars and other motor vehicles.
VAPA is expected to be able to supply plastic components for about 250,000 cars and 500,000 motorbikes per year. The factory will officially operate, test products in June 2019 before going into mass production. Besides the first customer is VinFast, it is expected that VAPA will quickly expand the customer network.
In terms of capacity, An Phat Holdings now has Hanoi Plastics JSC, which is a well-known enterprise in the supporting industry. Hanoi Plastics specializes in manufacturing high-tech plastic products for industries and civil. Currently, Hanoi Plastics is a long-term customer with famous brands such as Toyota, Honda, SamSung, and LG.
In the recent meeting between the leaders of HPC and Toyota, Mr. Toru Kinoshita, representative of Toyota Vietnam, Chairman of Vietnam Automobile Manufacturers Association (VAMA) also expressed his desire that An Phat Holdings would be the important strategic partner to increase domestic ratio and HPC will be the main partner in supplying automotive plastic components to Toyota Vietnam.
