Chinese renowned automaker Geely Automobile recently announced a major investment plan, marking its further expansion in the Southeast Asian market. According to the company's latest statement, Geely Automobile will join forces with Tasco Joint Stock in Hanoi, Vietnam to jointly invest approximately $168 million to establish a brand new automotive assembly plant in Vietnam. This measure not only demonstrates Geely's emphasis on the Southeast Asian market, but also heralds a new round of layout for Chinese car brands on the international stage.

The new factory is expected to have an annual production capacity of 75000 vehicles, which not only reflects Geely's confidence in the Vietnamese market, but also its optimistic expectations for future growth. Geely Automobile stated that this investment is not limited to building assembly plants, but will also cover the construction of local supply chains and the establishment of automotive research and development centers, aiming to build a complete automotive industry ecosystem and promote the development of the automotive industry in Vietnam and even the entire Southeast Asian region.

Geely Automobile's decision was made against the backdrop of the Chinese government encouraging automobile companies to "go global" and export more "complete vehicles" to overseas markets. With the continuous rise of China's automobile industry, more and more domestic car companies are seeking breakthroughs in overseas markets, and Geely Automobile is undoubtedly one of the best among them. This investment in Vietnam is an important step in Geely's globalization strategy.

Vietnam, as an important economy in Southeast Asia, has shown tremendous development potential in the automotive industry in recent years. Its stable political environment, favorable investment policies, and growing consumer market have attracted the attention of many domestic and foreign car brands, including Geely. Geely's decision to build a factory in Vietnam will undoubtedly make full use of these advantages and further consolidate its position in the Southeast Asian market.

In addition to Geely Automobile, Vietnam has also attracted investments from multiple Chinese car manufacturers, including Chery Automobile and BYD. The influx of these enterprises not only brings advanced automotive manufacturing technology and management experience to Vietnam, but also promotes the improvement and development of the local automotive industry chain.

The establishment of Geely's new factory in Vietnam will not only promote Geely's own business growth in the Southeast Asian market, but also create more job opportunities and tax contributions for the local area. Meanwhile, with Geely's deepening layout in the Vietnamese market, its brand influence will also be further enhanced, laying a solid foundation for future globalization development.