Chinese automakers find Vietnam appealing

The appearance of Chinese automakers over the past two years has been increasing options for Vietnamese consumers on top of the familiar brands from Japan, South Korea, the U.S., and Germany.

Chery said it expects to start selling vehicles in Vietnam from early 2024. Chery will sell cars made by its affiliates Omoda and Jaecoo, and the first batches of Omoda 5, S5, S5 GT, and Jaecoo 7 are on the way to Vietnam.

Wuling entered Vietnam by partnering with local company TMT Motors to assemble its most successful model, the Hongguang Mini EV.

The Wuling Hongguang Mini EV at a golf course in Ho Chi Minh City in June 2023. Photo by Thanh Nhan

Before its launch on June 29 the vehicle had caused a sensation as people expected it to cost less than VND200 million (US$8,470).

But things cooled down when its prices were announced at VND239-279 million. It does offer great advantages like compact size, agility and the cheapest prices on the market.

Wuling currently sells only one model, the Hongguang Mini EV, but TMT has said it will assemble others in future.

Haima has a local distribution partner, Carvivu, and its first model in Vietnam is expected to be the MPV 7X, which will compete with the likes of Mitsubishi Xpander and Toyota Veloz. Haima cars will be imported.

The MPV 7X on display at a convention center in Ho Chi Minh City, February 2023. Photo by Quoc Dat

The Chinese automaker also plans to bring the electric version of 7X, 7X-E, and a C-segment CUV, Haima 8S.

Carvivu said Haima plans to start selling in Vietnam in the second half of this year with two showrooms in Hanoi and one in Ho Chi Minh City.

In early August, the Haval H6 HEV was launched in Hanoi, kicking off business of the Chinese carmaker in the Vietnamese market.

Haval has only one showroom in Hanoi but plans to expand its distribution network soon. The H6 is a C-segment CUV imported from Thailand with a 1.5-liter hybrid engine and a price of VND1.096 billion.

Its production in and import from Thailand means it does not attract tariffs.

Zhidou displayed its Zhidou A01 at an exhibition in Ho Chi Minh City in mid-May. The Chinese carmaker said it would sell the commercial version of the car from the end of 2023.

Zhidou said it would set up a joint venture in Vietnam to assemble cars, with the logo and brand names customized for the local market.
The company has said it will set up a large charging network throughout Vietnam when it starts selling the A01 model.

Lynk & Co belonging to Geely will appear in Vietnam in October with four imported models. Its local distributor, GreenLynk, said it would sell the 01, 03, 05, and 09 models.

Lynk & Co was established by Geely in 2016, six years after it bought Swedish firm Volvo. It focuses on high-end products, targeting tech-savvy young customers.