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TC Motor, a distributor and assembler of South Korean Hyundai vehicles in Vietnam, will start distributing Skoda cars next year and cooperate with Skoda Auto to assemble the autos in a new factory.
TC Motor will distribute and manufacture Czech Skoda cars
Under a deal it signed with Skoda Auto - one of the world's oldest car makers - in Hanoi on October 7, TC Motor will start distributing imported Skoda cars next year. Skoda makes 11 models, with the Octavia its bestseller, but the two companies have yet to disclose which model will be sold in Vietnam first.
Vietnam is the first Southeast Asian country where Skoda will build a factory.
The two parties also have plans to build a car assembly plant in the northern province of Quang Ninh, with the first vehicles expected to roll out of it late next year at the earliest.
In February, the leaders of Skoda met deputy minister of Planning and Investment Nguyen Thi Bich Ngoc and the chairman of Quang Ninh People's Committee to discuss plans to establish modern manufacturing lines within its factory in Quang Ninh.
Vietnam is the first Southeast Asian country where Skoda will build a factory. The company plans to put the factory into operation in 2024 and begin exporting cars from Vietnam a few years later.
Last year, the Czech group sold nearly 900,000 vehicles in 100 markets around the world, with Germany and Russia the biggest.
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By Oanh Nguyen
