For those in the know about the automotive industry, the name Tan Chong is likely a familiar one. This Malaysian conglomerate used to distribute Nissan and MG vehicles in Vietnam. However, as of July 2023, Chinese automotive company SAIC ended its agreement with Tan Chong and began directly distributing MG vehicles in the country.
Fast forward to February 2024, and Tan Chong has been officially appointed by GAC Motor to import and distribute their gasoline vehicles and parts in Vietnam. The conglomerate shared that the agreement with GAC Motor is for a period of three years from the contract execution date. TC Service Vietnam, a subsidiary of Tan Chong, will be responsible for importing and distributing GAC vehicles in the country.
In a similar vein, Tan Chong is also the exclusive distributor of GAC vehicles in Malaysia. Additionally, the conglomerate has been tasked by GAC Motor to build a RM60 million (approximately USD 12.6 million) automobile assembly plant in Malaysia. This is the first GAC assembly plant in Southeast Asia and will be responsible for assembling vehicles such as the new GAC GS3 Emzoom.
The first GAC assembly plant in Southeast Asia will be assembling the GS3 Emzoom, a B-segment SUV.
Towards the end of March 2024, Tan Chong signed a Memorandum of Understanding with GAC Motor to explore the feasibility of two projects: assembling the GAC Emkoo for the Malaysian market and exporting the GS3 Emzoom to Vietnam. The export of the GS3 Emzoom to Vietnam is seen as a pivotal part of Tan Chong’s regional expansion plans.
Tan Chong and GAC Motor signed a Memorandum of Understanding on March 31, 2024.
GAC-branded vehicles are expected to be introduced in Vietnam later this year, and GAC Motor will also be participating in the Vietnam Motor Show (VMS) 2024, taking place from October 23-27 in Ho Chi Minh City. While it’s not yet clear which models GAC Motor will sell in Vietnam beyond the GS3 Emzoom, the company will be introducing three vehicles in Malaysia this year: the GAC Emkoo, GS3 Emzoom, and the Aion Y Plus electric vehicle.
The GAC GS3 Emzoom, manufactured in Malaysia, may be exported to Vietnam.
Interestingly, Aion, GAC’s electric vehicle subsidiary, is also set to enter the Vietnamese market, but not through Tan Chong. Instead, Aion vehicles will be distributed by Harmony Vietnam, a subsidiary of China’s Harmony Group. According to Aion’s official fanpage, the brand will launch in Vietnam in June this year, introducing three models in the initial phase: the Y Plus, ES, and Hyper HT.
Founded in 1997, GAC is headquartered in Guangzhou, Guangdong Province, China. The company has a global presence in over 39 countries and regions and has established joint ventures with automotive brands such as Honda, Jeep, and Toyota. As of the end of 2023, GAC Group had sold over 2.5 million vehicles worldwide, including more than 100,000 new energy vehicles (NEVs), a term used by the Chinese to refer to both pure electric and plug-in hybrid vehicles.
With these developments, Vietnam’s automotive market is set to welcome several new Chinese automotive brands in 2024, including GAC, BYD, and Chery’s Omoda and Jaecoo.
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