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Geely Auto invests $170M in Vietnam expansion

Geely Auto plans to invest nearly $170 million to expand vehicle production in Vietnam, including building a plant capable of assembling 75,000 cars annually in a joint venture with Hanoi-based Tasco Joint Stock Company. Geely will contribute 36% of the total investment, with the remainder coming from Tasco. In addition to the assembly plant, Geely aims to develop the local supply chain and establish an automotive research and development center. This move follows Chinese efforts to boost exports of vehicle knock-down kits, with Geely joining other Chinese automakers, such as Chery and BYD, in committing to vehicle production in Vietnam.

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