Chinese carmaker Chery to build plant in Vietnam

Under the joint venture agreement between the Chinese firm and its Vietnamese partner signed on Thursday, the US$800-million plant would be built in three phases.

Construction is scheduled to commence in the third quarter, with the initial phase expected to be finished by early 2026.

Upon completion of the first phase, it will have a capacity of 50,000 vehicles, which is set to expand to 200,000 once fully operational.

Until the plant starts operation, Omoda & Jaecoo cars will be imported from Indonesia.

The Omoda C5 and E5 will be launched in Vietnam in the third quarter of this year, and the Jaecoo 7 and 7 PHEV in the fourth.

A Jaecoo 7 on display at the joint venture agreement signing ceremony. Photo by VnExpress/Luong Dung

Chery Automobile is a state-owned auto manufacturer founded in 1997 in Anhui province.

It exported 937,148 vehicles last year to keep its spot as the country’s top car exporter for a 21st straight year.

Chery first came to Vietnam in 2009 with its QQ3, which was made domestically through a partnership with the Vietnam Motors Corporation, but failed to gain as much popularity as its rivals from countries like Japan and South Korea.

Last October, it introduced three models under the Omoda and Jaecoo brands in Hanoi, including the Omoda S5 sedan and the Omoda C5 and Jaecoo 7 crossovers.