A bus model by Russian car maker GAZ. The Russian car producer is seeking a joint-venture project with a local partner in Đà Nẵng. — Photo courtesy Thành Đạt GroupViet Nam News ĐÀ NẴNG — Russian automotive manufacturer Gorkovsky Avtomobilny Zavod (GAZ) is seeking a joint venture with local Thành Đạt Group to build an automobile plant in Đà Nẵng. The city’s investment promotion agency (IPA) said GAZ has not yet unveiled their investment and production plan, but the market survey and procedures for the joint-venture has been prepared by Russian and Vietnamese partners. The plan for the first joint-venture automobile plant project in the city was proposed in a meeting with the city’s leadership and Consul General of the Russian Federation in Đà Nẵng Andrey P Brovarets last week. Đà Nẵng-based Thành Đạt Group, who bought a … [Read more...] about Russian car maker seeks joint-venture
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Quang Nam. Buses have the highest rate of using locally made components and accessories. — VNS Photo Cong Thanh Local car maker Truong Hai Automobile company (Thaco) has increased the proportion of components it sources from local suppliers in order to reduce sale prices and improve competitiveness, as tariffs on cars have fallen to zero throughout the ASEAN region. General director of Thaco Pham Van Tai said Thaco had developed five automobile plants and a supportive industry zone with 15 plants producing spare parts and accessories for local use and export as well as boosting made-in-Viet Nam cars under the ASEAN Trade in Goods Agreement (ATIGA). He said commercial car production had seen using locally made goods for 15 to 20 per cent of its components, while trucks used 30 to 45 per cent of localised accessories and spare parts produced by supportive plants in the Chu Lai-Truong Hai Industrial Complex in Quang Nam Province. Tai said buses have seen as the highest rate of … [Read more...] about Local car maker increases localisation rate
The BMW X2 model will be introduced in the Vietnam market starting from September 2018. (Photo courtesy Thaco) Hanoi (VNA) - Local car maker Truong Hai Auto Company (THACO) will introduce the BMW X2 model in Vietnam, just one year after the vehicle first debuted at the Los Angeles Auto Show in the US in 2017. THACO said the newest cross-over model and other imported BMW X1, BMW 118i and BMW 218i have been shipped to Vietnam for the official curtain-raising event this September. It also said BMW X2 will offer three classes including Base, M-Sport and M Sport X for Vietnamese customers. According to the company, further models — notably the BMW 7 Series 740Li, 750Li and M760Li X Drive — will be arriving in Vietnam for show-off events later this year. THACO has been the new official importer of BMW and MINI vehicles in Vietnam following a cooperation deal with the German giant car maker signed in January of 2018. The price of the newly imported … [Read more...] about Local car maker to introduce latest BMW models
Vietnam’s policy on tightening car import regulations under Decree 116 may be the main reason behind foreign car makers' decision to expand production in Vietnam. The Toyota automotive plant in Vinh Phuc province. Source: toyotavinhphuc.info Most recently, Toyota Vietnam proposed the Vinh Phuc People’s Committee to rent 9.1ha of land in Phuc Yen city to expand its automobile manufacturing plant, raising its annual capacity from the current 50,000 to 90,000 units by 2023. Accordingly, the total capital for this expansion is about $40 million. Toyota’s move is supposed to be the result of Decree No.116/2017/ND-CP, which introduced many strict conditions and regulations about importing cars, which came into effect early this year. Not only Toyota, but Ford and Hyundai are also planning to expand production scale in Vietnam due to the decree. According to the Vietnamese government, Decree 116 aims to boost the development of the country’s automobile … [Read more...] about Decree 116 moves foreign car makers to expand production in Vietnam?
Viet Nam News QUẢNG NAM - The Korean Hyundai Motors and local Trường Hải Automobile Company (Thaco) have launched a mini bus manufacturing project with the total capacity of 10,000 units per year. It's the first-ever manufacturing project in Việt Nam to build a new Hyundai mini bus model for export. The first Hyundai minis buses will roll out from Quảng Nam-based bus plant this year. The bus model is the newest Hyundai model in the Vietnamese market, in co-operation with local car makers after series models of trucks, dump-trucks, buses and commercial cars were produced from 2011. Thaco said it had invested over VNĐ2 trillion (US$88.5 million) to build a bus plant with total capacity of 20,000 seater/sleeping buses and mini-buses per year. The nation's biggest automaker plans to build three more plants with the total annual capacity of 215,000 trucks, vans, commercial cars, and achieve a localisation ratio of 16 per to 46 per cent. Thaco has so far manufactured and distributed … [Read more...] about Local car maker, Hyundai begins mini bus manufacture project