Covering an area of over 50 hectares in the northern Ninh Binh Province, the new plant will turn out eco-friendly and fuel-saving vehicles, said Thanh Cong chairman Nguyen Anh Tuan.

An employee wearing a mask to prevent contracting the coronavirus disease (Covid-19) waits for custormers next to a Hyundai Motor's vehicle at Hyundai Motor Studio in Goyang, South Korea, April 21, 2020.

Hyundai entered the Vietnamese market in 2009 through a joint venture with local conglomerate Thanh Cong Group. It imports parts for local assembly in what are known as knock-down kits.

The plant will increase Hyundai's Vietnamese production capacity to 170,000 vehicles a year when it becomes fully operational, likely in 2025.

The South Korean automaker has invested nearly VND12.3 trillion (roughly $496 million) in Ninh Binh province.

In the first 10 months, 397,457 cars were sold and auto sales could exceed 400,000 for the first time in eight years, according to the Vietnam Automobile Manufacturers Association (VAMA).

September auto sales up 8.5%

Auto sales rose by 8.5% in September to 33,463 units as the market slowly recovered amid tightening global spending.

Automobile sales soar by 247% in August

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) logged their August vehicle sales at 30,846, a month-on-month increase of 2% and a year-on-year surge of 247%.

Auto sales rise 20% in July

Auto sales resumed in July with 30,254 units sold, up 20% from June, showing signs of recovery.

More than 300 businesses attend ASEAN Online Sale Day 2022

ASEAN Online Sale Day 2022, part of activities marking the 55th founding anniversary of the Association of Southeast Asian Nations (ASEAN), kicked off on August 8, drawing more than 300 businesses from the region.

ASEAN Online Sale Day 2022 to take place next month

The Association of Southeast Asian Nations (ASEAN) Online Sale Day 2022 is scheduled to be held from August 8 -10 to mark ASEAN’s 55th founding anniversary, according to the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade.

Source: VnExpress