Vietnam’s THACO to manufacture “Made in Vietnam” motorbikes

The Thaco Motorcycle Manufacturing company was founded with a charter capital of VND10 billion will be a competitor of VinFast, a subsidiary of Vietnamese conglomerate Vingroup in the motorbike sector.

Focusing strongly on automobile and agriculture, Thaco has recently established a new enterprise, the Thaco Motorbike Manufacturing to produce motorbike and industry related to the business and of motorcycle maintenance services.

The corporation has been considering to enter the sector for one year, taking full advantage of existing investments in automobile industry to produce motorbikes with low cost.

Currently, THACO has 7 manufacturing and assembling automobile factories, including Thaco Kia, Thaco Mazda, Thaco high-class passenger car factory, specialized passenger car factory, Thaco Load, Thaco Bus, Thaco Specialized vehicle factory.

The motorcycle market in Vietnam currently has the participation of 5 foreign brands - Honda, Yamaha, Piaggio, Suzuki, SYM. There are also domestic enterprises producing electric scooters including VinFast, Pega and several brands of electric scooters from Korea, Japan, China, Hongkong.

The annual sales of the motorcycle market in Vietnam is about 3.3 million units.

Currently, Thaco is a manufacturer and trader of car brands including KIA, Mazda, BMW, Mini, Peugeot.

This year, Thaco targets to sell more than 70,000 cars and more than 30,000 trucks, buses and minibus with an estimated revenue of VND70,000 billion. Export turnover was projected at over USD50 million.

Source: Dau Tu