Dreaming big, investors pour trillions of dong into automobile factories

The Vietnamese automobile market is full of potential with predicted sales of up to 1.8 million products a year, but it still remains risky to invest in the industry.

Big investment

Thanh Cong Group and Hyundai Motor organized a groundbreaking ceremony to kick off the construction of a new factory in Ninh Binh.

The factory, capitalized at VND3.2 trillion, covers an area of 50 hectares in Gian Khau IZ and has designed capacity of 100,000 products a year. It will use modern technologies and put out models meeting Euro 5 and Euro 6 emission standards.

Thanh Cong has also started a project on an automobile supporting industry complex in Quang Ninh. Its CEO Le Ngoc Duc said the complex will gather many enterprises that make automobile parts, especially high-tech content for domestic automobile production and export.

Ford Vietnam has completed the upgrading and expansion of its factory in Hai Duong

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Elon Musk hints Tesla factories abroad will design, build original cars

  • Elon Musk appeared to confirm on Monday that the US-based electric-vehicle company is planning to eventually design and manufacture new and differing car models at Gigafactory Shanghai and Berlin.
  • This comes as Musk recently presented at Tesla’s “Battery Day” on September 22 that he expects a $25,000 “fully autonomous electric vehicle” to hit the automobile market in roughly three years.
  • The comment gives us a glimpse at how Musk envisions the two factories functioning and fitting into Tesla’s roadmap of the design and manufacturing of future products.
  • Visit Business Insider’s homepage for more stories.

Tesla CEO Elon Musk confirmed on Monday that the US-based electric vehicle company is eventually planning to manufacture two new and differing car models at its Gigafactories abroad. 

“Both will do original cars,” Musk said in response to a tweet about the Gigafactories in Shanghai and Berlin and their respective design factories.

Musk’s remark expands the

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Around 1,800 workers in automobile factories have suffered serious injuries in past 3 years: Report

© Provided by Hindustan Times

Around 1,800 workers employed in various automobile parts manufacturing units in Gurugram-Manesar industrial complex have suffered serious work-related injuries over the past three years that included, among others, losing their fingers and hands, stated a report released by Safe in India Foundation on Thursday. The report further stated that 88% of the injured workers were migrants from other states and they were also the ones who suffered the most during Covid-19 pandemic.

As per the data shared by the foundation, 1,369 workers were seriously injured in the period between November 2016 and March 2019. Further, in the last one year, till September 1, 2020, an additional 504 auto workers faced serious injuries.

The report also stated also stated that 52%of these workers were young and aged less than 30 years. They were mostly employed by vendors of large auto companies based in this region.


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