From October 17-21, the Chery Group hosted a Global User Conference in Anhui, China, with approximately 700 guests from 49 countries in attendance. Notably, the Vietnamese delegation included representatives from the Ministry of Industry and Trade and the leaders of Thai Binh province.
During the conference, Mr. Nguyen Khac Than, Chairman of the Thai Binh People’s Committee, presented investment and business registration certificates to the Geleximco-Chery joint venture.
Thai Binh provincial leaders and representatives from the Ministry of Industry and Trade collaborate with the joint venture between the Geleximco and Chery groups.
Chery shared that this marks a significant step towards realizing their goal of distributing OMODA & JAECOO vehicles in Vietnam. The company also intends to propose the construction of an automobile manufacturing plant in the Hung Phu Industrial Park, Tien Hai District, Thai Binh Province.
With the substantial investment from the Geleximco-Chery joint venture, Vietnam is expected to become a regional hub for the production and export of OMODA & JAECOO-branded automobiles. While the factory is under construction, OMODA & JAECOO will enter the Vietnamese market by importing complete cars from Indonesia, with plans to launch the OMODA C5 model by the end of this year.
Mr. Nguyen Khac Than, Chairman of the Thai Binh People’s Committee (third from left), presents the investment registration certificate to the automobile joint venture between the Geleximco and Chery groups.
Mr. Yin Tongyue, Chairman of the Chery Group, expressed: “The collaboration between Geleximco and Chery is not only based on the agreement between the two parties but also receives support from Vietnamese government agencies, especially Thai Binh province. This further emphasizes the importance of the Vietnamese market to Chery, where the Group aims not only for domestic consumption but also for exports to Southeast Asian and global markets. Additionally, the Chery Group also has long-term plans to establish a research and manufacturing center in Vietnam to boost production capacity and technological innovation.”
Mr. Vu Van Tien, Chairman and General Director of Geleximco, shared: “With the determination of the two groups and the support of relevant agencies from both countries, I am confident that OMODA & JAECOO will thrive in the Vietnamese market. The Geleximco-Chery joint venture will contribute to Vietnam becoming a significant automotive manufacturing hub in the region, catering to both the domestic market and exports.”
Initially, Chery will focus on distributing gasoline-powered vehicles before expanding to PHEV (plug-in hybrid electric vehicle) models, aligning with global trends. The planned manufacturing plant in the Hung Phu Industrial Park is expected to involve a total investment of 800 million USD and will have a capacity of up to 50,000 vehicles per year when completed in 2026.
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The automotive industry in Vietnam is about to witness a significant boost as two subsidiaries of the renowned Chery Group have joined forces with the Geleximco Group to establish a robust car manufacturing plant in the country. With a formidable annual production capacity of 200,000 vehicles, this strategic joint venture is set to make a profound impact on Vietnam’s automotive market and beyond.
