VinSpeed High-Speed Rail Investment and Development JSC and Siemens Mobility signed a turnkey contract on September 22 valued at up to $1.15 billion, covering the delivery of 10 Velaro Novo trainsets, signalling, communications and electrification for two Vietnamese corridors.

The deal converts the Comprehensive Strategic Cooperation and Technology Transfer Agreement the parties signed in December 2025 into concrete procurement and engineering commitments. VinSpeed, a member of Vingroup, will carry out project development, track construction and civil works. Siemens Mobility will supply the rolling stock and the rail systems.

What are the two corridors?

• Hanoi-Quang Ninh: 121 km, four stations
• Ben Thanh-Can Gio: 54 km, two stations

The combined 175 km of infrastructure will form the first operating segments of VinSpeed's high-speed programme.

What is Siemens delivering?

• 10 Velaro Novo high-speed EMUs
• European Train Control System (ETCS) Level 2 with Automatic Train Operation (ATO)
• Communications and electrification systems

The Velaro Novo is Siemens Mobility's next-generation distributed-power EMU, rated for speeds up to 350 km/h. Each 200 m trainset comprises seven cars with 760 seats. Siemens says the design consumes 30 per cent less energy than previous generations and carries at least 10 per cent more passengers, thanks to a wider body and an "empty tube" structural configuration.

Why is the signalling scope notable?

Integration of ATO with ETCS Level 2 has not previously been deployed on a national high-speed network, according to the joint statement released at the signing. ATO over ETCS will automatically manage train spacing and continuously adjust acceleration, braking and cruising speed. Siemens and VinSpeed expect the layer to cut energy use and improve headway precision on the Vietnamese network.

What did the executives say?

Pham Thieu Hoa, CEO of VinSpeed, said: "The signing of the contract with Siemens Mobility marks an important step in realising VinSpeed's high-speed rail lines in Vietnam. The combination of VinSpeed's project implementation capabilities with Siemens Mobility's advanced rail technology and global experience will provide a foundation for bringing modern, efficient and sustainable operating solutions to the new rail lines, while laying the groundwork for the development of an integrated high-speed transport system in Vietnam."

Michael Peter, CEO of Siemens Mobility, said: "Vietnam is entering an exciting new era of mobility, and we are proud to contribute to this transformation. With our Velaro Novo trains, which consume 30 per cent less energy than previous models and offers more than 10 per cent additional passenger capacity, combined with state-of-the-art ETCS Level 2 signalling and advanced electrification systems, we are providing Vietnam with a truly sustainable and efficient transport solution."

How does the deal fit Siemens Mobility's order book?

Siemens Mobility is a separately managed company of Siemens AG. In fiscal year 2025, which closed on September 30, 2025, it posted revenue of $14.2 billion and employed about 43,400 people. The Vietnam contract adds to a high-speed pipeline that includes the 2,000 km Egyptian system Siemens is building with Orascom Construction and The Arab Contractors for the National Authority for Tunnels.

What comes next?

Delivery of the first Velaro Novo trainsets and commissioning of ATO over ETCS Level 2 will set the timeline for revenue service on the Hanoi-Quang Ninh and Ben Thanh-Can Gio corridors, and determine whether the lines meet the energy and throughput targets Siemens has set for the Velaro platform.