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Tuesday, June 25, 2024

Over VND3.2-trillion Hyundai auto plant gets off ground in Vietnam

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HCMC – Vietnam’s Thanh Cong Group and South Korean automaker Hyundai Motor have broken ground on the second Hyundai Thanh Cong auto plant project in the northern province of Ninh Binh, with a total investment of over VND3.2 trillion, to serve the local and global markets.

The auto plant project, which is set to cover an area of 50 hectares in Gian Khau Industrial Zone in Gia Vien District, will be carried out in two phases. The first phase is slated for completion in June 2022, while the second phase will be completed three years later.

Once put into place, the plant will have a total capacity of 100,000 units a year, taking the total capacity of manufacturing and assembling Hyundai vehicles in the country to 170,000 units a year.

Hyundai automobiles will be manufactured and assembled at the second plant on production lines using advanced technology transferred from Hyundai Motor and other leading global partners, according to the investor.

To protect the environment, the second plant is designed to turn out cars meeting Euro 5 and Euro 6 emission standards, apart from prioritizing the use of green energy in production.

Le Ngoc Duc, general director of Thanh Cong Group, said that the second Hyundai Thanh Cong auto plant project is expected to contribute to the development of Vietnam’s automobile sector following the prime minister’s orientation.

Some 79,570 Hyundai automobiles were sold in Vietnam in 2019, making the brand the second largest auto supplier in the local market. In the year to August, the local market had bought over 40,980 Hyundai units.

By Hung Le

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