Chery opens electric vehicle producer in Vietnam

17:36 - 4.04.2024

April 4, Fineko/ Vietnam's Ministry of Commerce announced on Thursday that Chinese automaker Chery has signed a joint venture agreement with a local company on construction of an $800 million worth plant.

ABC.AZ reports that this is the first time that a Chinese electric car manufacturer has placed a manufacturing facility in Vietnam.

The plant to be created jointly with Chery Omoda&Jancoo division and Vietnamese company Geleximco will be located in the coastal province of Taipei, according to Ministry’s statement following the signing ceremony.

With production capacity of 200,000 vehicles per year, the plant will produce Omoda and Jayco electric vehicles from Chery.

The 1st phase of construction is expected to finish in the 1st quarter of 2026, the statement says.