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Thursday, January 27, 2022

Thaco exports first batch of 870 semi-trailers to U.S.

The Saigon Times

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HCMC – Truong Hai Auto Corporation (Thaco) held a ceremony marking the export of the first 870 semi-trailers to the U.S. today, December 15, at the PTSC Dung Quat Port in the central province of Quang Ngai.

The shipment was part of an agreement signed between Thaco Industries, a subsidiary of Thaco, and PITTS Enterprises, one of the 15 major trailer manufacturers in the U.S. Under the agreement, Thaco will export 15,500 semi-trailers valued at US$215 million to the U.S. in 2022.

Aside from these 870 semi-trailers, Thaco is set to export 1,400 semi-trailers on January 3, and 1,200 units on February 7 next year to the business partner. In the following periods, the Vietnamese firm will ship an average of 1,200 semi-trailers monthly.

At the ceremony, Thaco Industries and PITTS Enterprises also signed an agreement on the exclusive distribution of 25,000 semi-trailers in the U.S. in 2023, with a total value of over US$350 million.

PITTS Enterprises pledged to sell a total of 40,500 semi-trailers worth US$565 million in the 2022-2023 period.

According to a Thaco representative, given the strong growth in bilateral trade between Vietnam and the U.S., Thaco has studied the market and looked for opportunities to export semi-trailers and gained attention from many corporations and companies including PITTS Enterprises.

The Thaco representative added that Thaco Industries will invest in and build a semi-trailer factory equipped with modern technology, with an annual capacity of 20,000 products, to meet the demand in the U.S. and other markets such as Japan, Canada and Australia. The factory is slated for operation in June 2022.

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