You are here: Home » International » News » Companies
Business Standard

Vietnam wants to make its own cars, and how

Toyota is Vietnam's biggest car seller with a 23% market share in July; Ford Motor had 12%

Giang Nguyen | Bloomberg 

Vietnam wants to design and make cars for its 90 million motorbike and scooter riders. The country’s largest real-estate company Vingroup JSC said it plans to invest up to $3.5 billion to set up a manufacturing and research and development complex, aiming to roll out the first car in 24 months. The Hanoi-based developer will break ground on the $1 billion to $1.5 billion first phase of the plant, with a plan to make sedans, sport utility vehicles and electric cars in the future, Vingroup Vice Chairwoman Le Thi Thu Thuy said. “We want to create an affordable and ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Sun, September 03 2017. 01:30 IST