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GM Transfers Vietnamese Operations to Local Distributor
General Motors Co. has agreed to transfer ownership of its Vietnam assembly plant and Chevrolet dealer network to local producer VinFast later this year.
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General Motors Co. has agreed to transfer ownership of its Vietnam assembly plant and Chevrolet dealer network to local producer VinFast later this year.
VinFast is part of the Vingroup JSC, Vietnam’s largest conglomerate. The company will license a global small car from GM and produce it under its own brand at the GM factory in Hanoi, beginning in 2019. GM will then supply the Vietnamese market with imported Chevy models.
GM had been using its Hanoi facility to assemble Chevy models from kits supplied by GM Korea, Reuters reports. The U.S. carmaker currently offers six Chevy models in Vietnam: the Spark supermini, Aveo small sedan and Cruze midsize sedan cars; the Captiva and Trailblazer SUVs; the Orlando MPV; and the Colorado pickup truck.
Last year Chevrolet sales in Vietnam rose 9% to 10,600 units, according to the Vietnam Automobile Manufacturers’ Assn. VAMA says the country’s new-car market shrank 10% last year to 272,800 units.
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