Thanh Cong Group in collaboration with Hyundai to manufacture commercial vehicles
PSNews - Thanh Cong Group and Hyundai Motor have officially signed a new joint venture to manufacture and distribute commercial vehicles in Vietnam named Hyundai Thanh Cong Commercial Vehicle (HTCV).
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After nearly 8 years of production, assembly and distribution of passenger cars of Hyundai in Vietnam market, Hyundai Thanh Cong under Thanh Cong Group has proved its potential and enthusiasm in the context of fiercely competitive market in Vietnam.
With the launch of the joint venture, Thanh Cong Group has become the only company in Vietnam to manufacture, assemble and distribute all models of Hyundai cars.
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This activity in the field of commercial vehicles reflects part of Hyundai Motor’s expansion strategy in the global market. The Southeast Asia region has always been considered an important market for future growth as other important markets with huge potentials.
The first phase of manufacturing in the plant will be carried out in an area of 25 hectares, with an estimated production capacity of about 12,000 passenger cars and buses and about 30,000 trucks per year.
Before the new deal, the production and distribution of commercial vehicles under the Hyundai brand were carried out by different units, creating variance in the market. The HTCV joint venture was founded to create uniform quality for customers in Vietnam.
The Hyundai Group will transfer its most modern machinery and equipment to HTCV to help it meet the demand of the global exports.
