Mitsui & Co. Becomes Tasco Auto’s Strategic Investor

Tasco and Mitsui & Co., Ltd. (“Mitsui”) are proud to announce their partnership, with Mitsui becoming a strategic shareholder of Tasco Auto, a subsidiary of Tasco. This collaboration will see the two companies working together to implement various plans and development strategies for Tasco Auto in the coming years. The investment will be disbursed in phases, with the first tranche completed on July 31, 2024.

The partnership between Tasco and Mitsui at Tasco Auto marks a significant step forward in Tasco’s strategic goals. Through this collaboration, Tasco Auto will have the opportunity to learn from Mitsui’s international operational and management expertise, optimize efficiency, and leverage its partner’s established position and network. This will help Tasco Auto realize its growth potential and pursue its long-term development objectives.

Additionally, Mitsui will bring technological solutions and consulting services to the table, working alongside Tasco to enhance operational efficiency and improve governance structures, resulting in a more streamlined and effective organization. For Mitsui, this partnership presents an opportunity to deepen its involvement in rapidly growing industries in Vietnam, a market with a population of over 100 million people.

With Tasco’s vision to become the leading choice in Vietnam for automotive services and smart transportation infrastructure, Tasco Auto plays a strategic role. Together with its existing network of 90 showrooms and a portfolio of 14 automotive brands, including Volvo, Lynk & Co, Toyota, Ford, and Mitsubishi, Tasco Auto aims to provide a comprehensive range of services for vehicles and their owners throughout their lifetime. The company currently holds the largest market share in Vietnam (13.3% in 2023) and has recently ventured upstream with an automotive assembly (CKD) project developed in 2024, targeting the launch of products in 2025 in collaboration with a global partner ranked among the top 10 automotive companies in the world.

Mitsui is a leading Japanese trading and investment company with a presence in over 60 countries and regions, boasting a diverse range of business operations. The automotive and transportation sector is a key focus for Mitsui, with investments in over 100 companies across 26 countries. In this sector, Mitsui brings extensive experience in supply chain participation and the development of next-generation mobility solutions.

The strategic collaboration between Tasco and Mitsui is driven by a shared vision to capitalize on the long-term growth opportunities in the automotive industry. It combines Tasco’s leading advantages in automotive services in Vietnam with Mitsui’s international experience, global network, and strong financial backing. This synergy will maximize the strengths of both parties, fostering business development, expansion, and enhanced operational efficiency.

Looking ahead, this partnership will create significant opportunities to innovate the business model, increase profit margins, and enhance shareholder value for both Tasco and Mitsui.

TH (Tuoitrethudo)