Chinese carmaker Geely moves into Vietnamese market

Evin Ye, vice president of Geely Automobile International Corporation (GAIC) SAID, “Our expansion into Vietnam represents a strategic cornerstone of Geely's global vision. We are introducing a diverse product portfolio while building strong local operations to deliver mobility solutions tailored to the unique needs of Vietnamese customers. Through local manufacturing investment and supply chain collaboration, we aim to contribute to Vietnam’s automotive sector and foster mutual growth.”

Geely is deploying a comprehensive “multi-energy” strategy across Vietnam’s automotive landscape. The Coolray–its initial offering–has achieved global sales of over one million units, recognised for its youthful design, intelligent features, and class-leading performance. In Q2 2025, Geely plans to introduce two additional models: the flagship luxury SUV Monjaro and the next-generation all-electric Geely EX5.

Over the next three years, Geely aims to launch nine models in Vietnam, covering internal combustion engine (ICE), plug-in hybrid electric vehicle (PHEV), and battery electric vehicle (BEV) platforms. The product range will include both five-seat and seven-seat configurations, tailored to local market preferences.

In September 2024, Geely formed a strategic alliance with Vietnam’s Tasco Group to develop an automotive assembly facility in Thai Binh province. The project, representing an investment of $168 million, spans 30 hectares, with construction scheduled to begin in 2025 and production targeted for late 2026.

The facility will adopt a Completely Knocked Down (CKD) manufacturing model, with an initial annual output capacity of 75,000 vehicles and multi-model production capabilities. While the initial focus will be on Geely and Lynk & Co vehicles, the facility is expected to support additional brands in the future.

This localisation strategy addresses growing demand for high-quality vehicles and supports Vietnam’s ambitions to enhance its domestic manufacturing base and drive long-term, sustainable growth in the automotive industry.

Tasco Auto, a subsidiary of Tasco Group and Geely’s official distributor in Vietnam, is responsible for developing the brand’s national sales and service network. It has already established 15 dealerships in key metropolitan areas, integrating Geely’s global brand standards with Tasco’s local expertise to deliver comprehensive showroom and after-sales experiences.

As Geely continues to expand its product range and deepen market penetration, it plans to increase its dealership network to 50 locations nationwide by the end of 2025.

China's Geely to build $168 million automobile facility with Tasco in Thai Binh Chinese automaker Geely Auto Group (Geely) has signed a joint venture agreement with Tasco JSC for the manufacturing and assembly of automobiles in Vietnam.

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