Chinese carmakers to build automobile plants in Thai Binh
Work on two major automobile manufacturing and assembly plants with Chinese investments will start in northern Thai Binh province in the first half of 2025.
Geely Auto Group, a leading Chinese automaker based in Hangzhou, and Vietnam’s Tasco Joint Stock Company plan to commence construction of an automobile manufacturing and assembly plant in Tien Hai Economic Zone in June 2025. The first vehicles are expected to roll off the production line by early 2026.
Under their cooperation agreement, the two companies will establish a joint venture for automobile assembly and distribution in Vietnam. The factory, covering 30 hectares, will have an initial production capacity of 75,000 vehicles per year. The project has a total investment of US$168 million, with Tasco holding a 64% stake and Geely Auto 36%.
As part of the partnership, Tasco Auto, a subsidiary of Tasco, will become the official distributor of Geely vehicles in Vietnam. The first model to be introduced to the market will be the Geely Coolray, a compact SUV that has already gained popularity in the Philippines and Russia.
Beyond manufacturing and distribution, Geely and Tasco also plan to invest in local supply chains, R&D centres, and workforce training programmes to support the long-term development of Vietnam’s automotive industry.
Meanwhile, Chinese automaker Chery’s subsidiary, Omoda & Jaecoo, has partnered with Vietnamese conglomerate Geleximco to establish a manufacturing plant in Hung Phu Industrial Zone of Thai Binh province.
The 800-million-USD facility is scheduled to begin construction in the second quarter of this year, with the first phase expected to be completed by early 2026. Once fully operational, the plant will have a production capacity of 200,000 vehicles per year.
Ahead of the factory’s launch, Omoda & Jaecoo has already introduced their brand in Vietnam, initially distributing the OMODA C5 SUV, which is imported from Indonesia. In January 2025, they expanded their lineup by introducing the Jaecoo J7 PHEV. The brand has also established 20 dealerships nationwide.
These investments are expected to strengthen Vietnam’s automotive industry, boost localisation efforts, and create thousands of new jobs.
