105
Listen to the audio version of the article
Vietnam’s trade ministry said Chery has signed a joint venture agreement with a local company to build an $800 million assembly plant, becoming the first Chinese EV maker to set up a production plant in the country. The plant, which will be built jointly by Chery’s Omoda and Jaecoo units and Vietnamese company Geleximco, will be built in the coastal province of Thai Binh, the ministry said following the agreement signing ceremony. With a capacity of 200,000 vehicles per year, the factory will produce Chery’s Omoda and Jaecoo electric models. The first phase of construction is expected to be completed in the first quarter of 2026.