Vietnam's automotive industry takes a leap forward with Thanh Cong Group's ambitious project to establish the Thanh Cong Viet Hung automobile factory.
With a substantial investment capital of over 8,679 billion VND, this initiative aims to manufacture Škoda cars under the renowned brand and is slated for launch in Vietnam in 2025.
Of the total investment, Thanh Cong contributes more than 2,603 billion VND (30%), with the remaining funding sourced externally. The factory's annual capacity of 120,000 cars positions it as a significant player in both the domestic and Southeast Asian markets.
The project received its initial certification on September 18, 2020, and has since made strides with construction and partnership agreements. The factory will be pivotal in Škoda's expansion into the ASEAN region, with the first CKD models set to debut in 2025.
Mr. Le Quang Hai, a notable figure within Thanh Cong Group, has been instrumental in the project's evolution. His involvement dates back to the establishment of Hyundai Thanh Cong Vietnam Joint Stock Company in 2013.
With dynamic leadership and strategic collaborations, the Thanh Cong Viet Hung automobile factory is poised to reshape Vietnam's automotive landscape, driving innovation and economic growth.