Vietnamese auto startup Vinfast (previously GM Vietnam) recently purchased the General Motors Lang Lang Proving Grounds in Australia, reportedly outbidding other interested parties for ownership rights. Vinfast will use the facility to develop new vehicles for the Asia-Pacific region.
As GM Authority reported back in February, General Motors announced it would retire the Holden brand in Australia and New Zealand. As a follow-up, GM Authority was the first to report on new GMSV (GM Special Vehicles) trademark filings which confirm that the GMSV brand would replace Holden as the new GM brand in Australia.
With the new brand, General Motors is reportedly interesting in liquidating its assets in Australia, one of the largest of which is the Lang Lang test facility located east of Melbourne. Stretching out across some 2,155 acres, the Lang Lang Proving Grounds was previously owned by General Motors Holden, which utilized the facility to develop a variety of Holden vehicles.
Although General Motors sold the Lang Lang test facility to Vinfast, GM also reportedly secured the rights to use it for development with regard to its latest GMSV line of vehicles, including the all-new Chevrolet Corvette C8, per a report from Practical Motoring.
Vinfast will also reportedly keep the site open to enthusiasts for track day events.
“The Lang Lang Proving Ground will continue to shape the global automotive industry,” said Kristian Aquilina, GM Holden Interim Chairman and Managing Director. “Over the past five years, GM has invested in the laboratories and tracks at the site, which will now be well utilized by its new owners.”
“This deal hits a sweet spot of a fair sale value, a ready-made facility for VinFast’s needs, ongoing employment for departing Holden employees and the preservation of amenity for the community,” Aquilina added.
Aquilina also stated that while the sale marks “the end of an era,” the sale to Vinfast secures “a bright future” for the facility as well.
Subscribe to GM Authority for ongoing General Motors news coverage.
"motors" - Google News
September 10, 2020 at 04:38AM
https://ift.tt/2R7Ib30
Vinfast Acquires General Motors Lang Lang Proving Grounds In Australia - GM Authority
"motors" - Google News
https://ift.tt/2SwmEC9
https://ift.tt/3b0YXrX
Bagikan Berita Ini
0 Response to "Vinfast Acquires General Motors Lang Lang Proving Grounds In Australia - GM Authority"
Post a Comment