Local car-maker wins Kia Motors' Best Global Partner
Local car-maker wins Kia Motors' Best Global Partner
Local car-maker Truong Hai Automobile JSC (Thaco) was awarded the Best Global Partner title by Kia Motors at a ceremony in Hawaii in the United States last week.
The deputy general director of Thaco, Bui Kim Kha, said the Vietnamese market had contributed to Kia's global market growth in recent years.
More than 100,000 Kia models have been sold in the Vietnamese market since Kia Motors and Thaco signed a co-operation agreement in 2007.
In the first year, only 600 Kia cars were sold in Viet Nam, but the figure jumped to 21,000 Kia cars in 2015.
According to the Viet Nam Automobile Manufacturers' Association (VAMA), Kia car models were reportedly the second best selling car in the Vietnamese market, allowing Thaco to claim 38.6 per cent of VAMA's market share.
According to Kia Motors, Viet Nam was always its primary market in the Southeast Asian region and Asia in general. The company has introduced its latest car models here under its global brand development strategy, featuring luxury designs, hi-tech equipment and safety and protection protocols.
Kia Motors and Thaco have manufactured eight car models since 2007.
As scheduled, Kia Optima, one of the company's latest models, will be manufactured at the Thaco Kia plant in Quang Nam Province this October.
Kia has already achieved 60 per cent growth in sales, with 9,000 cars sold in the first four months of this year in Viet Nam.
The Quang Nam-based automobile manufacturer has produced and distributed vehicles for several car manufacturers, including Kia from South Korea, Mazda from Japan and the French giant Peugeot.
Thaco plans to produce more than 112,000 cars in 2016, with expected revenue of US$3 billion.
Thaco produces and assembles cars, trucks and buses in Viet Nam, with a localisation ratio that has risen from 16 per cent to 46 per cent.
Last month, the local car maker started construction for the expansion of the Truong Hai-Chu Lai Mechanical Automobile Industrial Zone, covering 210ha, with an investment of $35.3 million.
