Siemens Mobility has signed a turnkey contract worth up to $1.15 billion (€1 billion) with Vietnam's VinSpeed to supply trains and rail systems for two high-speed lines now under construction in the country.

The German supplier will deliver 10 Velaro Novo trainsets along with signalling, electrification and communications systems for the 121 km Hanoi–Quang Ninh line, which will have four stations, and the 54 km Ben Thanh–Can Gio line, which will have two. VinSpeed, the rail arm of Vietnamese conglomerate Vingroup, retains responsibility for project development, track construction and civil works.

The contract builds on a strategic-cooperation and technology-transfer framework the two companies signed in December 2025. Siemens Mobility said the €1 billion figure covers its technology scope only. The two projects carry a combined investment of roughly $9.7 billion: the Hanoi–Quang Ninh line is valued at $5.5 billion and the Ben Thanh–Can Gio line at $4.2 billion.

Both lines target operation in 2028. They connect to major Vingroup property developments — one at Ha Long, the other in Ho Chi Minh City's Can Gio district — a linkage that underpins the business case for the two schemes and ties rail capacity directly to the developer's real estate portfolio.

The Velaro Novo is Siemens Mobility's latest high-speed platform, designed for speeds up to 350 kph. Each 200 m seven-car set seats 760 passengers. Siemens Mobility said the design offers at least 10% more capacity and roughly 30% lower energy consumption than earlier models, figures that translate into lower operating cost per seat-km if realised in service.

The trains will run under automatic train operation over a European Train Control System Level 2 platform, automating train spacing, speed control and braking. On a pair of lines this short — 121 km and 54 km — ATO and ETCS Level 2 are intended to maximise throughput and support tight headways between stations serving dense urban and tourist demand.

Michael Peter, chief executive of Siemens Mobility, said the Velaro Novo trains together with their signalling and electrification systems would give Vietnam an efficient, lower-emission transport option. VinSpeed chief executive Pham Thieu Hoa said pairing the company's project delivery capability with Siemens' technology would support modern rail operations in Vietnam.

The capacity and energy figures are supplier claims that will be tested once the fleet enters service; no operational data exists yet for the trains on either line. Delivery schedules for the 10 trainsets were not disclosed in the announcement.

With civil works already under way on both corridors and a 2028 operation target, the contract places Siemens Mobility as the principal systems integrator for Vietnam's first privately developed high-speed network, with commissioning dependent on VinSpeed completing construction on schedule.