Chinese automobile company enters into a joint venture to open a factory in Vietnam, selling cars from the end of 2024

(Dan Tri) – Car brands Omoda & Jaecoo and Vietnam’s Geleximco group have signed a joint venture and cooperation contract to build an automobile factory in Thai Binh, but in the immediate future they will import cars for distribution.

It may not be popular with Vietnamese people, but Omoda & Jaecoo is a sub-brand of Chery, one of China’s leading automobile manufacturers.

The factory of the joint venture Geleximco and Omoda & Jaecoo will be located in Thai Binh, focusing on new energy car models (Photo: Gia An).

According to the plan, the factory construction will be divided into 3 phases, total investment capital is estimated at 800 million USD, total capacity of 200,000 vehicles/year.

During the factory construction process, Omoda & Jaecoo car models will be imported from Indonesia to Vietnam.

Omoda E5 (pure electric) when launched for sale can compete with VinFast VF 6 (Photo: Gia An).

At the cooperation announcement, the Omoda E5 car model was displayed, promising to be a rival to VinFast VF 6 when entering the Vietnamese market.

Omoda E5 in Malaysia is equipped with an electric motor located on the front axle, helping the car reach a maximum capacity of 204 horsepower and 340Nm of torque.

The price of Omoda E5 in Malaysia is 147,000 Ringgit (about 773 million VND).

Jaecoo 7 distributed in Vietnam may be a plug-in hybrid, making a difference compared to existing competitors on the market, but the price may be a barrier (Photo: Gia An).

In addition, the Jaecoo 7 model was also displayed by the joint venture within the framework of the signing ceremony.

The Malaysian version as well as the display car uses a 1.6 Turbo engine with 197 horsepower and 290Nm of torque, 7-speed dual-clutch transmission, full-time 4-wheel drive system.

Regarding Omoda & Jaecoo alone, this brand has sold over 160,000 cars globally, present in 20 countries and regions.

In recent years, Chinese cars have continuously promoted their presence in Vietnam.