China’s Geely likely to build auto assembly plant in Vietnam
China’s Geely likely to build auto assembly plant in Vietnam
The CEO of Chinese multinational conglomerate Geely Auto Group, Gan Jiayue, has briefed Vietnamese Deputy Prime Minister Tran Hong Ha on their investment intentions in Vietnam, including setting up an auto assembly facility.
CEO of Chinese multinational conglomerate Geely Auto Group Gan Jiayue (L, 2nd) is seen at a meeting with Vietnamese Deputy Prime Minister Tran Hong Ha (R, 2nd) in Hanoi, September 23, 2024. Photo: Vietnam Government Portal |
At a meeting with Deputy PM Ha in Hanoi on Monday, Gan gave an overview of Geely Auto's global operations, focusing on acquisitions and established relationships with internationally recognized brands of petrol, electric, and hybrid cars.
Gan added that the group is concentrating on research to develop environmentally friendly products and manufacture high-end cockpit chips.
He outlined plans to establish an auto assembly plant, a spare parts supply chain, and a research and development center in Vietnam, aiming to boost the group’s investment activities in the country.
The CEO included proposals regarding environmental impact assessment, fire safety, work construction, tax incentives, credit support, and other issues.
Highly appreciating the capacity and reputation of Geely Auto in China and its global reach, Deputy PM Ha expressed that there is fierce competition in the world's automobile industry, meaning any future assembly plant should ensure requirements on innovation, creativity, emission reduction, and environmental protection to keep up with the trend of the times and sharpen its competitive edge.
He believed that this expected investment project would achieve a positive outcome.
The deputy premier stressed that the ultimate goal of the project should be to create made-in-Vietnam automobile products and that Geely Auto Group would proceed with the auto plant project quickly and comprehensively.
He also advised that the investor pay attention and ensure that materials, education, and health care would be available for future workers in all stages including survey, research, construction, development technology transfer, human resource training, and others.
Ha also told the visiting CEO that Vietnam welcomes foreign enterprises investing in high technology, creative innovation, supporting industries, and electronic components serving automobile manufacture, with the participation of Vietnamese enterprises.
Geely Auto Group is owned by Chinese billionaire entrepreneur Li Shufu, the 15th-richest person in the world, with a net worth of US$15.1 billion, according to Forbes.
The group, which owns brands such as Volvo Cars, Lotus, Lynk & Co, and Polestar, is also the third-largest shareholder in Aston Martin and a major shareholder in Daimler AG, the parent company of Mercedes-Benz.
