VinFast announced as Title Sponsor of the Formula 1® Vietnam Grand Prix 2020
- Vietnam’s largest car manufacturer will link its name to the pinnacle of motorsport
- FORMULA 1 VINFAST VIETNAM GRAND PRIX 2020 will take place in Hanoi street circuit next April
The Vietnam Grand Prix Corporation & Formula 1® are delighted to announce that VinFast will be the title sponsor of the first ever Vietnam Grand Prix, which will take place on the brand-new street circuit in Hanoi from 3rd to 5th April 2020. VinFast is Vietnam’s largest car manufacturer and is part of VinGroup, which was appointed promoter of the Vietnam Grand Prix in 2017.
The FORMULA 1 VINFAST VIETNAM GRAND PRIX 2020 will mark the debut of the top level of motorsport in the country and will be one of the most important events of the season as the Formula 1 World Championship celebrates its 70th anniversary next year. It also represents Formula 1’s firm commitment to the Asia region - where races are already well established in Singapore, China and Japan – and forms part of Formula 1’s long-term strategy to broaden the appeal of the sport and to reach new audiences around the globe.
Vingroup has signed a multi-year deal to host the Grand Prix, which will begin as a thrilling street race in the heart of the country’s capital. Working in close collaboration with the City of Hanoi authorities, the promoter and Formula 1 Motorsport department, the 5.6km track will deliver an exciting racing experience for the drivers as well as the fans. As the newest street race on the calendar, the F1 Hanoi Racetrack will feature 23 turns, some of them borrowing heavily from iconic tracks like Suzuka and the Nürburgring. The circuit also features one of the longest straights in the sport at 1.6km where drivers are expected to reach speeds of up to 335km/h.
Chase Carey, Chairman and CEO, Formula 1®, said:
“We are very pleased to welcome VinFast as title sponsor of the first ever Vietnam Grand Prix. It is a young, dynamic and ambitious company; qualities that make it the ideal partner to grow our sport in Vietnam. For us, the FORMULA 1 VINFAST VIETNAM GRAND PRIX 2020 is one of the cornerstones of our long term vision for the future of the sport, because since we became involved in this sport in 2017, we have talked about developing new destination cities to broaden the appeal of Formula 1 and at the same time, consolidating our presence in Europe, the traditional home of the sport. With only 170 days to go, momentum is starting to build and anticipation is growing daily amongst the whole F1 community. Indeed, this is being reflected in the steady ticket sales so far. Everyone in Formula 1 is keen to come to Hanoi, one of the most exciting cities in the world right now with such a rich history and an incredible future ahead of it, to take part in one of the most exciting events on the 2020 FIA Formula 1 World Championship calendar.”
Le Ngoc Chi, CEO of the Vietnam Grand Prix Corporation (VGPC), said:
“We are thrilled with today’s news. Securing a title partnership with VinFast is a major milestone moment for the Formula 1 Vietnam Grand Prix, providing us with a huge boost as we continue to strive tirelessly towards hosting our first ever F1 race weekend in Hanoi. VinFast shares so many traits that perfectly align with VGPC’s underlying values and aims – a spirit of dynamism, passion and forward-
thinking energy that symbolises the growing confidence of Vietnam on the global stage and will help us to further unleash Vietnam’s future. We now look forward with increased excitement and optimism
to delivering the inaugural Formula 1 race weekend in Vietnam with the support of our new partners at VinFast!”
Ms. Nguyen Thi Van Anh, Deputy General Director of VinFast, also commented on today’s landmark agreement:
“This is a wonderful opportunity for VinFast to showcase our premium product on the global stage. In assessing the merits of this partnership, we quickly recognised that being associated with the world’s most prestigious sport would bring wide-ranging benefits to our brand. We look forward with great enthusiasm and excitement to playing our part in this momentous undertaking”
In addition to its inclusion on the event title, the terms of the agreement will see the VinFast logo be heavily displayed throughout the race weekend with its brand set to feature prominently on all global broadcasts as well as on the winners’ trophies and across the F1 Hanoi Racetrack during the third round of the F1 2020 World Championship.
VinFast, part of the Vingroup family, is a key part of the latter’s mission to strive ‘for a better life for the Vietnamese people’. VinFast's vision has always been to create cars with a strong Vietnamese identity that would represent the country and be competitive on the global automotive stage. To this end, it has developed a brand of car that is at once stylish, premium and embodies the dynamic and passionate spirit of the Vietnamese people.
The new partnership is also a perfect fit for the Promoter’s ongoing ‘Go Vietnam.NOW!’ campaign, based around the Vietnam Grand Prix’s ethos of energy, transition, speed and movement. The campaign reflects the dynamism and upward growth that so characterises modern Vietnam – the fastest growing economy in South East Asia - while still paying homage to the country’s deep cultural heritage and longstanding traditions – all of which make VinFast, with its core values of modernity, national identity, innovation and premium quality, the ideal partner.
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About Formula 1®
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. The 2019 FIA Formula One World Championship™ runs from March to December and spans 21 races in 21 countries across five continents. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trade marks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
Vietnam's first car maker: VinFast operates under the Vingroup umbrella – the largest private enterprise and one of the leading technology, industry and service groups in Vietnam. Over the last decades, the company has established its position as market leader and trusted brand for millions of customers in the property, hospitality and entertainment, consumer retail, healthcare, education, agriculture and industrial sectors. Vingroup’s brands were founded with a mission to strive ‘for a better life for the Vietnamese people’, and Vingroup wanted to build a proud car brand for the country that was stylish, premium and embodied the Vietnamese spirit, that would appeal beyond its domestic market, to the world. VinFast's vision was to create cars with a strong Vietnamese identity that would represent the country and be competitive on the global automotive stage
Built by the auto World's finest: By enlisting the very best specialists in the automotive industry — including Italian design house Pininfarina, vehicle engineering specialist Magna Steyr and powertrain engineers AVL – VinFast has been able to create truly world-class cars from the outset. VinFast cars are also built using world-class equipment. A servo press from Schuler is at the heart of the facility’s press shop, and a fully automated body shop that uses high-quality Dürr paint equipment ensure a world-class finish. The facility is not only world-class, it is best in class.
A Vietnamese business with a truly global outlook, VinFast is proud to have launched the first cars in its GlobalCar portfolio: In VinFast, Vingroup has created a car brand that Vietnamese people can be truly proud of. It meets domestic drivers’ automotive needs and ideals — and it also answers demand from a growing domestic market, one of the fastest-growing economies in South East Asia. But it is also an innovative car brand for the world, a dynamic company that’s happy to take an unconventional approach to make great things happen. Delivering highly original styling in world-class cars, it’s an exciting new contender with the potential to shake up the global car industry.
About Vietnam Grand Prix Corporation
Vietnam Grand Prix Corporation (VGPC) is a subsidiary of Vingroup, entrusted with the rights to organize the Formula 1 Vietnam Grand Prix by the Hanoi People's Committee - the entity which holds the rights to host Formula 1 in Vietnam.
Vietnam Grand Prix Corporation is responsible for building the infrastructure of the Hanoi F1® Racetrack, and also to manage and operate the Formula 1 VinFast Vietnam Grand Prix from 2020. Furthermore, the Vietnam Grand Prix Corporation will also organize ticket sales and events to promote Formula 1 VinFast Vietnam Grand Prix 2020 in Vietnam and position the occasion as a world-class and unique event.