HCMC – Vietnam’s Geleximco Group and Omoda & Jaecoo, a subsidiary of China’s Chery Automobile, sealed a joint venture agreement to establish an auto factory in the northern province of Thai Binh yesterday, April 4.
TheUS$800 million project will have an annual production capacity of 200,000 vehicles. The first phase of construction is slated for completion in the first quarter of 2026.
The signing ceremony was attended by Vietnamese Minister of Industry and Trade Nguyen Hong Dien, Chinese Ambassador to Vietnam Xiong Bo, and other dignitaries from both nations.
Minister Dien underlined the project’s alignment with Vietnam’s automotive industry development strategy and its focus on promoting electric vehicle adoption. He urged the joint venture to uphold product quality standards and environmental protection measures.
Vu Van Tien, chairman of Geleximco, outlined plans for the factory to manufacture a diverse range of passenger cars, with a special emphasis on electric vehicles. Tien affirmed the company’s commitment to integrating local content into its production process.
The project is expected to generate employment opportunities and catalyze local economic growth.
