Geely Plans to Build Cars in Vietnam in $170 Million Investment
- Joint venture with Tasco aims to assemble 75,000 cars a year
- Pledge is part of China push to expand auto production abroad
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Geely Auto is planning to assemble vehicles in Vietnam as part of a series of commitments worth nearly $170 million to expand production in the Southeast Asian country.
The Chinese auto brand will build a plant in Vietnam capable of producing 75,000 cars annually in a joint venture with Hanoi-based Tasco Joint Stock Company, Geely said in a statement Tuesday. The automaker will also invest in building out the local supply chain and establish an automotive research and development center.