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
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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?
Foreign car makers are looking at ways to obtain the documetation required by a new law in Vietnam to reopen automotive exports to the country. Two months after Vietnam put in place a rule requiring stringent inspections of imported vehicles, around 2,000 Honda Motor passenger cars are slated to arrive in Vietnam from Thailand early this week, likely the first batch of foreign-made autos to undergo the new checks, according to Nikkei Asian Review. Honda has obtained quality certification from Thai authorities, and the Vietnamese government has apparently accepted the documents. The Indonesian government is also planning to change the vehicle type approval (VTA) certificates it issues in an effort to reopen automotive exports to Vietnam. "With the VTA adjustment, Indonesian automotive exports are expected to return to the country," the Jakarta Post quoted Indonesian Trade Ministry international trade director general, Oke Nuwan, as saying. “The government will convey the … [Read more...] about Foreign car makers try to navigate new law in Vietnam after two-month hiatus
A new decree issued by Vietnam designed to protect its own developing automotive industry does not comply with international rules, hindering the import of cars into Vietnam, said Toru Kinoshita, chairman of the Vietnam Automobile Manufacturers Association (VAMA) and CEO of Toyota Vietnam. The decree, which took effect on January 1, stipulates that traders are only permitted to import automobiles if they can provide valid vehicle registration certificates issued by authorities from the countries of origin. Original quality control certificates for each vehicle and letters of authorization regarding recalls of defective vehicles from the manufacturers are also required, along with copies of quality assurance certificates provided by the countries of origin. The decree also requires importers to have one car from each batch shipped to Vietnam to go through emissions and safety tests. Under the previous regulation, only one certificate was required for each model of car, … [Read more...] about Local, foreign enterprises in fierce debate over Vietnam’s new car import regulations
Viet Nam News QUẢNG NAM - The Korean Hyundai Motors and local Trường Hải Automobile Company (Thaco) have launched a mini bus manufacturing project with the total capacity of 10,000 units per year. It's the first-ever manufacturing project in Việt Nam to build a new Hyundai mini bus model for export. The first Hyundai minis buses will roll out from Quảng Nam-based bus plant this year. The bus model is the newest Hyundai model in the Vietnamese market, in co-operation with local car makers after series models of trucks, dump-trucks, buses and commercial cars were produced from 2011. Thaco said it had invested over VNĐ2 trillion (US$88.5 million) to build a bus plant with total capacity of 20,000 seater/sleeping buses and mini-buses per year. The nation's biggest automaker plans to build three more plants with the total annual capacity of 215,000 trucks, vans, commercial cars, and achieve a localisation ratio of 16 per to 46 per cent. Thaco has so far manufactured and distributed … [Read more...] about Local car maker, Hyundai begins mini bus manufacture project