On September 24, Vietnamese company Tasco issued a statement announcing that it had signed an agreement with Geely Auto to establish a joint venture for an automobile assembly plant in Thai Binh Province, Vietnam, with a total investment of approximately US$168 million (Note: currently approximately RMB 1.186 billion).

According to reports, the plant will assemble in the form of CKD, with an initial annual production capacity of 75,000 vehicles, involving models under the Lynk & Co and Geely Auto brands, and may be expanded to other brands in the future.

The plant is expected to start construction in the first half of 2025, and the first batch of models is expected to be delivered in early 2026. According to the agreement, Tasco and Geely will also establish an automotive research and development center. Tasco’s Tasco Auto will become the exclusive distributor of the Geely Auto brand in Vietnam.