A bus model by Russian car maker GAZ. The Russian car producer is seeking a joint-venture project with a local partner in Đà Nẵng. — Photo courtesy Thành Đạt GroupViet Nam News ĐÀ NẴNG — Russian automotive manufacturer Gorkovsky Avtomobilny Zavod (GAZ) is seeking a joint venture with local Thành Đạt Group to build an automobile plant in Đà Nẵng. The city’s investment promotion agency (IPA) said GAZ has not yet unveiled their investment and production plan, but the market survey and procedures for the joint-venture has been prepared by Russian and Vietnamese partners. The plan for the first joint-venture automobile plant project in the city was proposed in a meeting with the city’s leadership and Consul General of the Russian Federation in Đà Nẵng Andrey P Brovarets last week. Đà Nẵng-based Thành Đạt Group, who bought a … [Read more...] about Russian car maker seeks joint-venture
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Quang Nam. Buses have the highest rate of using locally made components and accessories. — VNS Photo Cong Thanh Local car maker Truong Hai Automobile company (Thaco) has increased the proportion of components it sources from local suppliers in order to reduce sale prices and improve competitiveness, as tariffs on cars have fallen to zero throughout the ASEAN region. General director of Thaco Pham Van Tai said Thaco had developed five automobile plants and a supportive industry zone with 15 plants producing spare parts and accessories for local use and export as well as boosting made-in-Viet Nam cars under the ASEAN Trade in Goods Agreement (ATIGA). He said commercial car production had seen using locally made goods for 15 to 20 per cent of its components, while trucks used 30 to 45 per cent of localised accessories and spare parts produced by supportive plants in the Chu Lai-Truong Hai Industrial Complex in Quang Nam Province. Tai said buses have seen as the highest rate of … [Read more...] about Local car maker increases localisation rate
The BMW X2 model will be introduced in the Vietnam market starting from September 2018. (Photo courtesy Thaco) Hanoi (VNA) - Local car maker Truong Hai Auto Company (THACO) will introduce the BMW X2 model in Vietnam, just one year after the vehicle first debuted at the Los Angeles Auto Show in the US in 2017. THACO said the newest cross-over model and other imported BMW X1, BMW 118i and BMW 218i have been shipped to Vietnam for the official curtain-raising event this September. It also said BMW X2 will offer three classes including Base, M-Sport and M Sport X for Vietnamese customers. According to the company, further models — notably the BMW 7 Series 740Li, 750Li and M760Li X Drive — will be arriving in Vietnam for show-off events later this year. THACO has been the new official importer of BMW and MINI vehicles in Vietnam following a cooperation deal with the German giant car maker signed in January of 2018. The price of the newly imported … [Read more...] about Local car maker to introduce latest BMW models
Vietnam’s policy on tightening car import regulations under Decree 116 may be the main reason behind foreign car makers' decision to expand production in Vietnam. The Toyota automotive plant in Vinh Phuc province. Source: toyotavinhphuc.info Most recently, Toyota Vietnam proposed the Vinh Phuc People’s Committee to rent 9.1ha of land in Phuc Yen city to expand its automobile manufacturing plant, raising its annual capacity from the current 50,000 to 90,000 units by 2023. Accordingly, the total capital for this expansion is about $40 million. Toyota’s move is supposed to be the result of Decree No.116/2017/ND-CP, which introduced many strict conditions and regulations about importing cars, which came into effect early this year. Not only Toyota, but Ford and Hyundai are also planning to expand production scale in Vietnam due to the decree. According to the Vietnamese government, Decree 116 aims to boost the development of the country’s automobile … [Read more...] about Decree 116 moves foreign car makers to expand production in Vietnam?
With a billion-dollar fine and the huge number of recalled vehicles, will the emission fraud scandal drag down Mercedes-Benz like it did Volkswagen back in 2015? Mercedes-Benz faces heavy fine for fraud Mercedes-Benz is being threatened with a fine of $4.37 billion. Photo: AFP German Der Spiegel magazine reported on last Friday that Daimler, the owner of Mercedes-Benz, is facing a fine of EUR3.75 billion ($4.37 billion) for using illegal software to manipulate diesel emissions. Accordingly, the magazine’s report comes after Andreas Scheuer, German Federal Minister of Transport and Digital Infrastructure, questioned Daimler at a closed-door meeting over how many Mercedes-Benz vans and cars need to be fixed after an inspection found illegal software in one of its models. Scheuer expressed concerns that 750,000 Mercedes vehicles could be affected and the ministry could impose a fine of up to EUR5,000 ($5,834) per vehicle. The German car maker last month was also ordered by … [Read more...] about Emission fraud plagues famous German car makers