Vietnam automobile distributors still face hurdles

Vietnam automobile distributors still face hurdles

The Vietnamese auto market is forecast to remain weak in the first half of this year before picking up in the second half.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnamese conglomerate Geleximco, China’s Chery Auto sign $800 mln auto factory deal

Vietnamese conglomerate Geleximco, China’s Chery Auto sign $800 mln auto factory deal

Vietnamese conglomerate Geleximco and Omoda & Jaecoo Automobile, a subsidiary of Chinese state-owned automaker Chery Automobile, signed an agreement Thursday to establish an $800-million automobile plant in Thai Binh province.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Swedish software tools maker IAR shifts gears to tap Vietnam auto market

Swedish software tools maker IAR shifts gears to tap Vietnam auto market

IAR, a Swedish supplier of software tools for embedded systems, appointed SH Consulting Vietnam as its official distributor in the country on June 4. Kiyo Uemura, IAR regional vice president in Asia-Pacific, tells The Investor that his company is well placed to supply mission-critical software to Vietnam’s growing automotive industry.

Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam giant Thaco mulls stake sale in $5 bln automaker

Vietnam giant Thaco mulls stake sale in $5 bln automaker

Thaco Group, one of Vietnam’s leading private conglomerates, is considering bringing in an investor into its automobile arm Thaco Auto in a deal that could value the producer at around $5 billion, Reuters said Wednesday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

FPT Software opens development center in China, targets auto sector

FPT Software opens development center in China, targets auto sector

Leading Vietnamese IT service provider FPT Software has opened a nearshore development center in Nanning, China’s Guangxi province to better serve the billion-people market, especially in the automotive industry.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Germany’s Magnetec launches production plant in Vietnam

Germany’s Magnetec launches production plant in Vietnam

Magnetec GmbH, a German provider of system solutions for the innovative sectors of automotive, energy, industry, and safety, opened its first factory in Vietnam on Wednesday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Top auto dealer Savico targets profit of $18.5 mln in 2023

Top auto dealer Savico targets profit of $18.5 mln in 2023

Major auto dealership Savico targets revenue of VND29,700 billion ($1.25 billion) in 2023, and after-tax profit of VND439 billion ($18.5 million), up 39% but down 25% year-on-year, respectively.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Industrial giant Thaco ups vertical integration with 3 new $670 mln ventures

Industrial giant Thaco ups vertical integration with 3 new $670 mln ventures

The Truong Hai Group Corporation (Thaco) launched three new ventures Saturday - a $550 million industrial arm, $100 million mechanical center and a $20 million research & development (R&D) center.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Geleximco ventures into auto making with $800 mln

Geleximco ventures into auto making with $800 mln

Vietnamese conglomerate Geleximco group is leasing 50 hectares of industrial land in Thai Binh province to build an $800 million gasoline and electric vehicle manufacturing facility.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Thaco plans 20 Emart stores by 2026

Thaco plans 20 Emart stores by 2026

Thaco, a multi-sector Vietnamese conglomerate, plans to open two new Emart stores this year, eyeing at least 20 outlets across the country by 2026, the group’s chairman Tran Ba Duong said Friday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Ministry to reap massive dividend from machinery firm VEAM

Ministry to reap massive dividend from machinery firm VEAM

The Ministry of Industry and Trade will net at least VND4,746 billion ($204 million) from 2021’s dividend payments by Vietnam Engine and Agricultural Machinery Corp. (VEAM), which holds major stakes in carmakers Honda Vietnam, Toyota Vietnam, and Ford Vietnam.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Thaco to unveil new Mercedes-Benz bus model

Thaco to unveil new Mercedes-Benz bus model

Thaco, a leading Vietnamese manufacturer and distributor of cars, buses, trucks, and specialized vehicles, will introduce a new Mercedes-Benz bus edition this Saturday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Private equity investment gathers pace in Vietnam

Private equity investment gathers pace in Vietnam

Private equity funds have been gathering pace in Vietnam to capitalize on what the fast-growing economy, with an almost 100 million population, can offer.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Electric vehicles drive VinFast’s global venture

Electric vehicles drive VinFast’s global venture

VinFast, a Vietnamese startup, is venturing abroad, with ambitions to become a global smart electric car producer.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s two-month vehicle sales climb 29%

Vietnam’s two-month vehicle sales climb 29%

Sales of vehicles on the Vietnamese market reached 65,634 units in the first two months of the year, up 29% year-on-year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7