The GEL-O&J auto plant is the result of a cooperation between Geleximco Group, Omoda & Jaecoo Auto Co., Ltd., and Chery Group (China). Located at Hung Phu Industrial Park, the factory spans over 381,000 m² (38.1 hectares), with an investment rate of US$8.37 million per hectare, positioning it as a high-quality investment project compared to other industrial zones in the region.

The project will be implemented in two phases. Phase 1 is slated to be completed and operational by Q4, 2026, while Phase 2 is expected to begin operations by Q4, 2029. Upon full operation, the plant is projected to generate annual revenue of approximately VND75,000 billion, contribute over VND 10,000 billion annually to the state budget, and create more than 1,000 direct jobs.

Currently, Vietnam has more than 40 enterprises involved in vehicle manufacturing and assembly, with a total design capacity of about 755,000 vehicles per year. These factories are spread across all three regions of the nation.

Vietnam's automobile industry is undergoing significant transformation with the participation of domestic industry leaders like THACO and VinFast, alongside increasing foreign investment. The expanding presence of these names has greatly enhanced local manufacturing capacity, shifting from simple components to complex systems, gradually integrating Vietnam deeper into the global automotive supply chain.

Vietnam's automobile industry to face multiple challenges in 2025

The Ministry of Industry and Trade has forecast that Vietnam's automobile market could grow by approximately 12% in 2025, with sales expected to reach 600,000 units.