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Geely Auto to Invest $168 Million in Vietnam Plant, Produce 75,000 Vehicles Annually

Sep 24, 2024, 06:17 AM

Geely Auto is planning to assemble vehicles in Vietnam as part of a series of commitments worth nearly $170 million to expand production in the Southeast Asian country. Geely Auto and Tasco signed a joint venture (JV) agreement yesterday for the manufacturing and assembly of automobiles in Vietnam. The plant, with a total investment of about $168 million, will produce 75,000 vehicles per year in the first phase. This marks Geely's first venture into South Asia as it expands globally. The JV involves Geely Holding Group subsidiary.