Vietnam's Geleximco Group and Chery Automobile signed a joint venture agreement to build an automobile factory in Vietnam

Vietnam's Geleximco Group has reached a cooperation agreement with Omoda & Jaecoo, a subsidiary of China's Chery Automobile, to build an automobile manufacturing plant in Thai Binh Province in northern Vietnam. The project is expected to invest US$800 million and have an annual production capacity of 200,000 vehicles. The first phase of construction is expected to be completed in the first quarter of 2026. The Vietnamese Minister of Industry and Trade and the Chinese Ambassador to Vietnam and other dignitaries from both countries attended the signing ceremony.