The two companies will set up a joint application competence center focusing on electromobility to accelerate VinFast's development of solutions for the future of smart mobility. The inauguration of the center is planned in the first quarter of 2023.

The creation of the VinFast–Infineon Competence Center (VICC) signals a new level in the relationship between both companies, who will jointly engage in the early development phase of VinFast's next-generation smart mobility solutions and will also discuss future semiconductor requirements to achieve supply chain stability. VICC will initially focus on the development of a new electric drive train (EDT) for VinFast electrified platforms. This is a part of VinFast's strategy to connect intelligence globally and to ensure its competitive advantages in the global EV market.

"VinFast's goal is to create smart mobility solutions for a sustainable future," said Mdm. Le Thi Thu Thuy, Vice Chairwoman of Vingroup and Global CEO of VinFast. "We are thrilled to extend our partnership with Infineon – the leader in semiconductors for electromobility. Infineon's advanced products and solutions will help to enhance VinFast's production efficiencies and support us reach our goals faster."

Based on its system understanding as well as broad product and technology portfolio Infineon will provide technical support and guidance on semiconductor selection including conventional technologies and those based on WBG (Wide Bandgap) semiconductor materials, including silicon carbide (SiC). The competence center will house a laboratory with testing and measuring equipment to provide prompt product validation.

"The growth of electromobility is undisputed," said Peter Schaefer, Executive Vice President and CMO of the Automotive division at Infineon. Market research expects every second newly produced car to be fully or partially electrified in five years' time. "Infineon is committed to driving this progress together with partners like VinFast that demonstrate high execution speed and strong determination. We will assist VinFast's electrification journey and support the advancement of their electric platform designs."

VinFast and Infineon have been working closely for more than three years prior to this new extended agreement. Many of Infineon's solutions have been utilized in VinFast's vehicles, such as inverters for the electric motor and high-voltage on-board charger (OBC) and DC-DC for powertrain, as well as in E/E (electrical and electronic) architectures.

Infineon is at the core of the transformation of the automotive industry towards sustainable mobility.

Infineon is the global number one in the 2021 automotive semiconductor market with an overall market share of 12.7 percent, and an outstanding share of 31.7 percent in the automotive power semiconductor market (Strategy Analytics: Automotive Semiconductor Vendor Market Shares. March 2022).

About OktoberTech™

OktoberTech™ is Infineon's global event format, aimed at demonstrating how future technology can drive decarbonization and digitalization. Hosted in areas with vibrant innovation ecosystems, OktoberTech™ brings together startups, business leaders, and experts.

ABOUT VINFAST

VinFast - a member of Vingroup – envisioned driving the movement of the 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.

ABOUT VINGROUP

Established in 1993, Vingroup is one of the leading private conglomerates in the region, with a total capitalization of $35 billion USD from three publicly traded companies (as of November 4, 2021). Vingroup currently focuses on three main areas: Technology and Industry, Services, and Social Enterprise.

About Infineon

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer, and greener. Microelectronics from Infineon are the key to a better future. With around 50,280 employees worldwide, Infineon generated revenue of about €11.1 billion in the 2021 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).