Vietnam will have a second national automaker. The conglomerate Thaco is launching its own brand, which will compete with VinFast.
Chairman of the Board of Directors of Thaco, Tran Ba Vuong, announced in an address to employees that in June 2026 the company will present a minivan under the Thaco brand. In 2027, the production of passenger cars with a capacity of up to nine seats will begin.
The production base will be an automobile complex in the Chu Lai industrial zone in the province of Quang Ngai. The area of the site exceeds 489 thousand square meters. m. The design capacity of the enterprise is about 120 thousand cars per year.
The Vietnamese car market is demonstrating growth. At the end of 2025, sales reached 604,134 cars, which is 22.2% more than the previous year.