Vietnamese conglomerate to start Skoda auto production for sale in 2025
Vietnamese conglomerate Thanh Cong Group (TC Group) aims to assemble vehicles of Czech brand Skoda from late 2024 for market supply in 2025.
The firm said Wednesday that its factory in the northern province of Quang Ninh was 90% complete and a partial trial run was begun in May.
Initially, the firm will provide B-class sedan and sport utility vehicle (SUV) units; and later expand production to electric vehicles (EV).
TC Group's factory in Quang Ninh province, northern Vietnam. Photo courtesy of Quang Ninh newspaper.
The 36.5-hectare factory, the first auto assembling facility in Quang Ninh, will have an annual capacity of 120,000 vehicles, per a cooperation agreement between TC Group and Skoda.
TC Group is well known as the producer of South Korean brand Hyundai vehicles in Vietnam.
Hyundai was the best-selling brand in Vietnam in 2023 with 67,450 units, and it retained this position in the first eight months of this year with 34,389 units.
Skoda Auto officially launched the sale of its vehicles in Vietnam in September 2023.
The Czech brand plans to rapidly expand its dealer network to 20 by 2025 and 30 by 2028, towards annual sales of 40,000 units from 2030.
The automaker has said that it sees Vietnam as a gateway to enter the promising ASEAN region.
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