According to official information from BMW Group Asia, BMW AG has selected Truong Hai Auto Joint Stock Company (THACO) as their new investor and importer in the Vietnamese market.
BMW Group Asia said on September 12 that it signed a letter of intent with Vietnamese automaker Truong Hai Automobile JSC (Thaco), delivering its intention to choose Thaco as a new dealer of its BMW and MINI models in Vietnam from January 1, 2018.
|BMW Group Asia has chosen Thaco as a new dealer of its BMW and MINI models in Vietnam. Photo: BMW
The German automaker will wind up its four-year contract with Sime Darby Motors which backs Euro Auto (EAC) - the officially authorized distributor of BMW in Vietnam since 2006 on December 31.
Sime Darby Motors is the second largest BMW dealer group in the world and continues to be a key partner for the BMW Group in multiple markets throughout the region.
“Our customers are our number one priority, and until further notice, EAC will continue to provide high quality after-sales services for all existing BMW, MINI and BMW Motorrad customers in Vietnam,” said Paul de Courtois, Managing Director of BMW Group Asia.
THACO was established in 1997. Currently, it is manufacturing, assembling, distributing and retailing commercial vehicles (truck and bus) and tourist vehicles with brands such as Kia (Korea), Mazda (Japan) Peugeot (France).
THACO's manufacture complex is located in Chu Lai Open Economic Zone, Quang Nam Province, covering an area of 400ha. It consists of six automobile assembly plants, 12 auxiliary industry plants, an R&D center, a vocational college and a port. It has 97 automotive retail showrooms and 59 agents all over the country.
Among Vietnam Automobile Manufacturers Association (VAMA), THACO is the leading company in sales with 40 – 42 per cent of market shares (2015 - 2017). In 2016, THACO was selected as the Viet Nam’s largest private enterprise by Vietnam Assessment Report Organization (VNR 500). By Phung Nguyen