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.
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