The Truong Hai Group Corporation (Thaco) will locally produce the BMW 3 Series, BMW 5 Series, BMW X3 and BMW X5 car models in the central province of Quang Nam.
“This is a major milestone for BMW as it looks to strengthen its footprint in the Asia-Pacific region,” Michael Nikolaides, senior vice president of BMW Group production network and supply chain management, said Monday.
The Thaco plant now joins BMW’s Asia production network, featuring plants in India, Thailand, China, Malaysia and Indonesia.
Thaco has been the official importer of BMW vehicles in Vietnam for five years, ever since the brand was re-launched in the country, said Lars Nielsen, the auto giant’s managing director for Asia.
At the moment, Thaco’s Chu Lai factory assembles cars of other brands, including Peugeot, Mazda and KIA.
Since BMW is a popular luxury car in Vietnam, customers expect local production to make its prices more affordable in the country.