Germany’s Siemens Mobility has signed a turnkey contract worth up to €1 billion ($1.15 billion) with Vietnam’s VinSpeed to supply trains and rail systems for two high-speed lines.

In a statement on Tuesday, Siemens Mobility said it would deliver 10 Velaro Novo trainsets plus signaling, electrification, and communications systems for the 121-km Hanoi–Quang Ninh line, with four stations, and the 54-km Ben Thanh–Can Gio line, with two stations. VinSpeed, under Vietnamese conglomerate Vingroup, will handle project development, track construction, and civil works.

The deal follows a strategic-cooperation and technology-transfer framework the two signed in December 2025, Siemens Mobility said. The €1 billion covers Siemens’ technology scope only, serving the $5.5 billion Hanoi–Quang Ninh line and the $4.2 billion Ben Thanh–Can Gio line.

The two train lines connect to major Vingroup property developments, at Ha Long and in Ho Chi Minh City’s Can Gio district. They are already under construction, targeting operation in 2028.

The Velaro Novo is Siemens Mobility’s latest high-speed platform, designed for speeds up to 350 kph. Each 200-meter, seven-car set seats 760 and offers at least 10 percent more capacity and about 30 percent lower energy use than earlier models, Siemens Mobility noted.

The trains would run with automatic train operation over a European Train Control System Level 2 signaling platform, automating spacing, speed, and braking.

Michael Peter, chief executive of Siemens Mobility, said the Velaro Novo trains and their signaling 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 with Siemens’ technology would support modern rail operations in Vietnam.

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