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Tag: automaker

  • VinFast Shatters Records: Skyrocketing EV Sales and Revenue Propel Vietnamese Automaker into Global Spotlight

    VinFast Shatters Records: Skyrocketing EV Sales and Revenue Propel Vietnamese Automaker into Global Spotlight

    Vietnamese electric vehicle manufacturer, VinFast, achieved record-breaking figures in both revenue and EV deliveries during 2025. The impressive results, which saw a 102% increase in electric cars delivered compared to 2024, were fueled by a global surge in demand for the company’s products and swift expansion into significant markets.

    VinFast’s unaudited financial results, released on Monday, revealed that the company generated VND90.43 trillion (US$3.6 billion) last year, a year-on-year increase of 105.4%. These results surpassed the company’s goal to double deliveries from the preceding year, marking the highest annual delivery volume in the company’s history.

    Final Quarter Analysis

    In the final quarter of 2025 alone, VinFast delivered 86,557 electric cars, an increase of 127% from the previous quarter and 63% year-on-year. The company’s Green brand and EC Van vehicles accounted for approximately 49% of deliveries during this quarter.

    International markets also saw considerable growth, contributing to about 18% of total global deliveries.

    Growth in Electric Motorbike and E-bike Segment

    VinFast also reported a substantial growth in its electric motorbike and e-bike segment. According to the released data, 171,962 units were delivered in the final quarter of 2025, a 43% increase from the previous quarter and a staggering 452% year-on-year increase. Throughout the entire year of 2025, the segment’s total deliveries reached 406,498 units, marking a 473% hike compared to 2024.

    Robust Revenue Growth

    VinFast’s revenue growth remained robust throughout the year. In the fourth quarter alone, the company’s revenue reached VND39.41 trillion, a 138.9% year-on-year increase and an increase of 117.7% from the previous quarter.

    By the end of 2025, VinFast had grown its global retail network to 424 showrooms worldwide, making its EVs more accessible to customers in various markets.

    Questions & Answers

    What was the year-on-year increase in VinFast’s electric vehicle deliveries in 2025?
    The increase in electric vehicle deliveries in 2025 compared to 2024 was 102%.

    What percentage of VinFast’s deliveries in the final quarter of 2025 were made up of its Green brand and EC Van vehicles?
    Approximately 49% of the deliveries in this period were VinFast’s Green brand and EC Van vehicles.

    How much did VinFast’s electric motorbike and e-bike segment grow in 2025 compared to the previous year?
    VinFast’s electric motorbike and e-bike segment grew by a striking 473% in 2025 compared to the previous year.

  • Vietnamese Automaker Thaco Joins Forces with Hyundai Rotem for Advanced Rail Tech Transfer

    Vietnamese Automaker Thaco Joins Forces with Hyundai Rotem for Advanced Rail Tech Transfer

    South Korean company Hyundai Rotem, a subsidiary of the Hyundai Motor Group, has entered into a technology transfer agreement with Thaco, a Vietnamese automaker. The deal will enable Thaco to manufacture rolling stock for metros and high-speed railway systems under its own brand, by using Hyundai Rotem’s advanced technologies.

    Integrated System Development

    In addition to the technology transfer, Hyundai Rotem will aid Thaco in the development of an integrated system encompassing signaling and communications, as well as mechanical and electrical components.

    Thaco’s Railway Industrial Complex

    As part of its expansion plans, Thaco aims to construct a railway industrial complex sprawling across 786 hectares in Ho Chi Minh City. The complex will include a manufacturing zone for rolling stock, a closed-loop test track system, and a repair center.

    Thaco’s agreement with Hyundai Rotem aligns with Vietnam’s current contemplation of strategies to advance its railway industry. Earlier this year, Prime Minister Pham Minh Chinh encouraged Thaco to be actively involved in research, technology transfer, and the production of carriages and locomotives for high-speed rail projects.

    Thaco’s Investment in High-Speed Rail Projects

    In May, Thaco proposed to construct the North-South high-speed rail link, with an estimated projected cost of US$61.35 billion. Thaco proposes to contribute 20% of the total cost, with the remaining funds to be borrowed from banks, with the backing of government interest subsidies.

    Thaco also revealed interest in developing the 47-kilometer Ben Thanh-Long Thanh rail line, which would connect downtown Ho Chi Minh City with the soon-to-be-completed Long Thanh International Airport.

    Established in 1997, Thaco has a diversified portfolio that includes the auto, agriculture, construction, and logistics sectors. The company assembles Kia, Mazda, and Peugeot cars and also manufactures trucks and buses under its own brand.

    Questions & Answers

    What is the significance of the technology transfer agreement between Hyundai Rotem and Thaco?
    The agreement will enable Thaco to use Hyundai Rotem’s cutting-edge technologies to manufacture rolling stock for metro and high-speed rail under its own brand.

    What is Thaco’s plan for the development of the railway industry in Vietnam?
    Thaco plans to construct a railway industrial complex in Ho Chi Minh City, which will include a manufacturing zone for rolling stock. They have also shown interest in developing high-speed rail projects, including the North-South rail link and the Ben Thanh-Long Thanh rail line.

    What sectors does Thaco operate in?
    Thaco has a diversified business portfolio, with interests in the auto, agriculture, construction, and logistics sectors. They assemble Kia, Mazda, and Peugeot cars and manufacture trucks and buses under its own brand.

  • China’s biggest automaker SAIC eyes sales of 100,000 units in Vietnam

    China’s biggest automaker SAIC eyes sales of 100,000 units in Vietnam

    China’s biggest auto brand SAIC Motor will build a factory in Vietnam next year and hopes to achieve sales of 100,000 units a year within five years.

    “With 100,000 cars sold a year, SAIC can be the third biggest auto company in Vietnam,” SAIC Vietnam director of business and marketing, Tran Nam Thang, said.

    SAIC Vietnam is a subsidiary of Chinese state-owned company Shanghai Automotive Industry Corporation.

    It also plans to start selling MG cars in Vietnam in July, taking it over from Malaysian distributor Tanchong.

    SAIC owns MG, originally a U.K. company.

    The goal of selling 100,000 cars a year is considered bold, given that Toyota, the biggest player in Vietnam, sold only 91,000 vehicles last year, followed by Hyundai with 81,000 units.

    Last year only around 4,300 MG cars were sold in Vietnam.

    Selling more than one brand will be a key strategy to achieve this goal.

    “The plan to build a factory in Vietnam will help reach the goal,” Thang said.

    “SAIC owns many brands and can develop its products quickly to meet a range of demands.”

    The company is considering locating the plant in the north and completing it by 2025. It will not just manufacture cars for the Vietnam market but also for other Southeast Asian countries.

    SAIC is the third Chinese company to announce plans to build a plant in Vietnam after BYD and Chery.

    The latter plans to sell its first cars in the country by the end of this year.

    SAIC sold 5.3 million cars last year and has been the biggest auto company in China for 17 years.

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  • Automaker McLaren opens first showroom in Vietnam

    Automaker McLaren opens first showroom in Vietnam

    British automaker McLaren opened its first official Vietnamese showroom in HCMC on Thursday. The McLaren HCM reseller, located at the Deutsches Haus building in HCMC’s District 1, is invested and run by S&S Group. With an authorized reseller in Vietnam, McLaren said it would deliver the newest supercars for the Vietnamese elite class.

    At the opening ceremony for the showroom, Charlotte Dickson, head of Asia Pacific at McLaren, said Vietnam is the firm’s 41st market.

    Nguyen Thuy Huong, co-founder of S&S, said HCMC was chosen as the location for McLaren’s first showroom as it is deemed an ideal destination with much potential for brand development.

    Through its authorized reseller, McLaren is expected to introduce to the Vietnamese market with several types of supercars, including the 765LT. Besides the showroom, S&S Group would also provide car repair and maintenance services.

    McLaren, founded in 2010, is a subsidiary owned by the wider McLaren Group. Its headquarters and manual assembly plant are in Woking, Surrey County, England.

    Besides the main product of supercars, the company also makes sports cars with more affordable price tags.

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  • Nissan Plans 50% Electric Vehicle Sales By 2030

    Nissan Plans 50% Electric Vehicle Sales By 2030

    Automaker Nissan wants half its global sales to be electric or hybrid vehicles by 2030 and plans to plough billions of dollars into the effort, it announced Monday. The move follows in the footsteps of other major global automakers, which have increasingly signaled a move towards electric and hybrid vehicles as concern about climate change grows.

    Unveiling its new long-term plan, Nissan said it will launch 23 new models, including 15 new electric vehicles, in a bid to reach the 2030 goal.

    Last year, only around 10 percent of Nissan’s global sales were EVs or hybrids, and the firm said the new target would help it achieve carbon neutrality across the lifecycle of its products by 2050.

    Nissan has been battered by a series of problems in recent years, ranging from weak demand even before the pandemic, to the fallout from the arrest and subsequent escape of former boss Carlos Ghosn.

    Last year, only around 10 percent of Nissan’s global sales were EVs or hybrids

    After falling behind rivals during the pandemic, it has begun clawing back performance, tripling its full-year net profit forecast earlier this month despite the impact of a global chip shortage.

    In a statement, Nissan CEO Makoto Uchida said the long-term plan announced Monday would “transform Nissan to become a sustainable company.”

    It’s a move seen across the auto industry with Sweden’s Volvo pledging to switch all sales away from traditional fuel cars by 2030, and Japan’s Honda setting the same target by 2040.

    Top-selling Toyota says by 2030 all the vehicles it sells in Europe will be electric or hybrid models, with a goal of 70 percent in North America and 100 percent in China by 2035.

    Nissan said 20 of its new electric models would hit the market in the next five years, setting a target for electric cars to make up 75 percent of sales in Europe by fiscal 2026.

    The Japanese automaker said it will invest two trillion yen ($17.5 billion) over the next five years to speed up electrification, aiming to launch electric vehicles with its proprietary batteries by 2028.

    Electric and hybrid vehicles are being increasingly adopted in the face of concern about climate change, with Britain moving to ban new sales of diesel and petrol cars in the UK from 2030.

    US President Joe Biden earlier this year announced a target for half of all ears sold domestically by 2030 to be zero-emission.

    At present, around 10 percent of European car sales are EVs, but the US figure is just two percent.

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  • Chinese Automaker Geely Auto Scraps STAR Market Listing Plan

    Chinese Automaker Geely Auto Scraps STAR Market Listing Plan

    China’s Geely Automobile Holdings Ltd said on Friday it is dropping plans to list new shares on the mainland’s Nasdaq-like STAR Market.

    Zhejiang-based Geely Auto, China’s highest-profile automaker thanks to parent Zhejiang Geely Holding Group’s investments in Daimler AG and Volvo Cars, is listed in Hong Kong with a market capitalization of HK$255 billion ($32.85 billion).

    In September, Geely Auto said in a filing that it planned to raise 20 billion yuan ($3.10 billion) from the STAR Market listing.

    Geely Auto is aiming to sell over 1.5 million vehicles this year. It also said would seek external funding for its newly-launched electric Zeekr brand.

    In February, Geely Auto said it abandoned the merger plan with sister company Volvo Cars.

  • Vietnamese automaker acquires South Korean retail chain

    Vietnamese automaker acquires South Korean retail chain

    A THACO spokesperson said that the agreement will be signed this week. South Korean retail giant E-mart, owned by the Shinsegae Group, will stop operating its outlets in the country. Under the buyout deal, THACO will operate the chain as a franchisee and pay a royalty to E-mart.

    The South Korean established the E-mart Vietnam Co. in 2014 after three years of doing market research in the country.

    It opened its first megamarket in HCMC’s Go Vap District at the end of 2015, covering an area of 12,000 square meters. The megamarket consists of a shopping area, restaurants and a kids’ playground.

    It hiked its charter capital by 62.5 percent to VND2.7 trillion ($117.8 million) in 2018.

    The E-mart Vietnam management board said 95 percent of products it sold were domestically produced.

    Rumors had surfaced at the end of last year that E-mart will exit the Vietnam retail market, but the company denied them.

    South Korean newspaper The Korea Times cited the retail giant as saying it was selling its Vietnam operations due to difficulties in expanding the business. It had planned to open a second megamarket in HCMC’s Tan Phu District in mid-2018, but the plan was not realized.

    THACO has announced plans to open 10 supermarkets in Vietnam by 2025.

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  • 2020 Skoda Superb Facelift Global Debut End of May

    2020 Skoda Superb Facelift Global Debut End of May

    The Superb is the flagship in Skoda’s portfolio and it is planning to present the 2020 facelifted model to the world on a special occasion. IIHF Ice Hockey World Championship is a grand affair for the Czech carmaker and it has signed up for the 27th time as its lead sponsor and will supply 50 fleet cars for the event. Skoda will also seize the opportunity to unveil the 2020 Superb Facelift on May 23, 2019, on the quarter-final match day.

    Pulling off a surprise, Skoda may also introduce the Superb Facelift with a new plug-in hybrid powertrain which was expected in the next-generation model. For the first time in history, Skoda will be offering a hybrid model and we are expecting it to borrow the powertrain from the Volkswagen Passat GTE. The same 1.4-liter, turbocharged TFSI petrol motor which powers the Audi A4 is expected to be coupled with an electric motor in the upcoming Skoda Superb. We have seen the same powertrain earlier at the 2016 Auto Expo in the Volkswagen Passat GTE plug-in-hybrid variant in which it develops 212 bhp and 400 Nm of peak torque. The 2020 Skoda Superb is likely to get it in the same state of tune.

    The car has already been spotted testing and design modifications on the new model will be rather subtle. The front bumper will get a wider air dam along with slightly muscular overhangs and the rear bumper will be revised as well. Moreover, new elements such as full-LED headlamps and new daytime running lights (DRLs) will also be on offer. Expect the rear to have the new widespread Skoda badging instead of the logo.

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