Chinese automaker Chery to build US$800 million factory in Vietnam
Chinese automaker Chery's Omoda&Jaecoo and Vietnamese company Geleximco signed a joint venture agreement on April 4 in the northern province of Thai Binh to construct a US$800 million automobile plant.
According to details set out in the plan, the Omoda & Jaecoo new energy vehicle factory will have a capacity of 200,000 vehicles annually.
Construction on the factory will begin in the third quarter of this year with the initial phase set to be completed in the first quarter of 2026. After completing phase one, the factory will raise its capacity of producing about 50,000 vehicles per year.
During the construction process, the Omoda & Jaecoo’s car models sold locally will be imported from Indonesia.
The Chinese company reported, the two car models Omoda C5 and E5 will make their first debut in the third quarter, while the Jaecoo 7 and 7 PHEV models will be launched in the fourth quarter.
At the end of October last year, Chery introduced three car models under the Omoda and Jaecoo brands in Hanoi, including the C-size sedan Omoda S5, C-size crossover Omoda C5, and B+ size crossover Jaecoo 7.
Source: VOV
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