Truong Hai Auto Corporation (THACO) has just revealed to resume assembling BMW cars in Vietnam a decade after the German carmaker stopped manufacturing operations in the country. X2 is the latest CBU model of BMW in Vietnam At the conference on strengthening the development of Vietnam's supporting industry held reccently by the Government Office, THACO chairman Tran Ba Duong said that the corporation started assembling mid-range-segment vehicles like KIA and Mazda, then moved to assemble European near-premium-segment brands like Peugeot, and is now targeting BMW. The chairman said that the corporation has yet to fix a specific time or the models to be assembled. In order to secure an agreement with BMW, the manufacturer has to equip a modern manufacturing line and prepare financial resources. THACO has been officially permitted to distribute German luxury cars from January 2018, after BMW cancelled its contract with the previous distributor Euro Auto after it was found to … [Read more...] about THACO may bring back BMW assembly to Vietnam
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BMW assembly on the anvil, says Vietnam auto conglomerate
By Minh Hy  December 24, 2018 | 08:12 pm GMT+7 Truong Hai Auto is currently the sole distributor of BMW cars in Vietnam. Photo by Reuters THACO, a major player in the country’s commercial vehicle segment, plans to assemble German brand BMW cars in Vietnam. Tran Ba Duong, chairman of the Truong Hai Auto Corporation (THACO), said at a conference last week that BMW cars will be the next vehicle that THACO assembles in the country, following other brands like Peugeot, Kia and Mazda. He did not reveal further details about when this would happen and what models would be assembled. THACO became the sole authorized distributor of BMW in Vietnam starting January this year, after Ho Chi Minh City-based Euro Auto lost its license for smuggling 133 BMW cars in December 2016. Duong had said earlier that he plans to open 15 BMW and MINI (a car brand owned by BMW), showrooms by early next year. However, the company currently runs only one BMW showroom in Hanoi, another … [Read more...] about BMW assembly on the anvil, says Vietnam auto conglomerate
BMW shows debut in Việt Nam
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The BMW X2 makes its first appearance in Việt Nam at the BMW Joyfest being held in HCM City’s District 2. — VNS PhotoViet Nam News HCM CITY — The first-ever BMW Joyfest and BMW Motorrad Day in Việt Nam are being held at HCM City’s Sala Urban Area in District 2 with a range of activities and test drive experiences for BMW customers and enthusiasts. At the BMW Joyfest on September 28 and 29, participants have the opportunity to view the latest BMW models such as the 7-series, which has made a comeback after a two-year absence from the Vietnamese market, the X2, which has come for the first time to Việt Nam, the MINI 3-door, and MINI 5-door, said Phạm Văn Tài, general director of Trường Hải Auto Corporation (Thaco). Customers will enjoy professional car performances and test drives under the guidance of BMW and BMW Motorrad experts. There are also other activities for all ages such as outdoor games, an … [Read more...] about BMW shows debut in Việt Nam
Local car maker to introduce latest BMW models
The BMW X2 model will be introduced in the Vietnam market starting from September 2018. (Photo courtesy Thaco) Hanoi (VNA) - Local car maker Truong Hai Auto Company (THACO) will introduce the BMW X2 model in Vietnam, just one year after the vehicle first debuted at the Los Angeles Auto Show in the US in 2017. THACO said the newest cross-over model and other imported BMW X1, BMW 118i and BMW 218i have been shipped to Vietnam for the official curtain-raising event this September. It also said BMW X2 will offer three classes including Base, M-Sport and M Sport X for Vietnamese customers. According to the company, further models — notably the BMW 7 Series 740Li, 750Li and M760Li X Drive — will be arriving in Vietnam for show-off events later this year. THACO has been the new official importer of BMW and MINI vehicles in Vietnam following a cooperation deal with the German giant car maker signed in January of 2018. The price of the newly imported … [Read more...] about Local car maker to introduce latest BMW models
Latest BMW models to debut in Viet Nam
The BMW X2 model will be introduced in the Viet Nam market starting from September 2018. — Photo courtesy Thaco Local car maker Truong Hai Auto company (THACO) will introduce the BMW X2 model in Viet Nam, just one year after the vehicle first debuted at the Los Angeles Auto Show in the US in 2017. Thaco said the newest cross-over model and other imported BMW X1, BMW 118i and BMW 218i have been shipped to Viet Nam for the official curtain-raising event this September. It also said BMW X2 will offer three classes including Base, M-Sport and M Sport X for Vietnamese customers. According to Thaco, further models — notably the BMW 7 Series 740Li, 750Li and M760Li X Drive — will be arriving in Viet Nam for show-off events later this year. Thaco has been the new official importer of BMW and MINI vehicles in Viet Nam following a co-operation deal with the German giant car maker signed in January of 2018. A BMW 7 Series model is planned to officially debut later in 2018. … [Read more...] about Latest BMW models to debut in Viet Nam
South Korea to launch probe into BMW over alleged delayed recall
South Korea will launch an investigation into BMW, a minister said Friday (Aug 3), over an alleged delay in recalling more than 100,000 cars following a spate of engine fires. At least 28 BMW cars have caught fire this year in South Korea, according to media reports. (Photo: AFP/Saul Loeb) At least 28 BMW cars have caught fire this year in South Korea, according to media reports, forcing the German automaker to issue a recall last week to fix a faulty component that was aimed at reducing emissions from diesel engines. But angry customers have launched a class-action lawsuit against the company alleging that it was slow to respond to the fires, prompting the authorities to probe the matter. "We will investigate the fires of BMW vehicles thoroughly and transparently", Transportation Minister Kim Hyun-mee said, adding that the probe would examine whether the company had reacted properly to the accidents. "If any problems are found, we will take stern measures", Kim said in a … [Read more...] about South Korea to launch probe into BMW over alleged delayed recall
BMW recall of 470 cars in Vietnam may be due to fire risk
German car manufacturer BMW’s sudden recall of 470 cars in Vietnam may be related to the car giant’s re-exporting of 88,000 vehicles in the UK due to fire risk. BMW cars at Cai Mep Port. Photo: tienphong.vn AFP stated that on May 18, BMW expanded a British safety recall for another 88,000 vehicles because of a fire risk. At the same time, BMW Asia Group made a press statement announcing to re-export 470 cars, 106 MINI vehicles, and 55 motorcycles (BMW Motorrad) from Vietnam back to Germany. Accordingly, these vehicles are still in containers at VICT (Ho Chi Minh City) and Cai Mep Port (Ba Ria-Vung Tau). “The Vietnamese General Department of Customs approved BMW and BMW Asia to re-export these vehicles back to Germany. Currently, we are tightly co-operating with the Ho Chi Minh City Customs and the Ba Ria-Vung Tau Customs to complete procedures to recall these BMW vehicles,” stated BMW Asia’ press release. However, the press release did not … [Read more...] about BMW recall of 470 cars in Vietnam may be due to fire risk
Number of VN Forbes billionaires doubles
Viet Nam’s four billionaires (from left to right): Tran Ba Duong, Nguyen Thi Phuong Thao, Pham Nhat Vuong, Tran Dinh Long. — Photo anninhthudo.vn Viet Nam now has four billionaires named in the annual Forbes list released on Tuesday. This is double the number in last year’s rankings. Besides Pham Nhat Vuong and Nguyen Thi Phuong Thao, Thaco chairman Tran Ba Duong and Hoa Phat chairman Tran Dinh Long feature in the Forbes 2018 list. Vượng, owner of real estate conglomerate Vingroup and Việt Nam’s first billionaire, has been named for the sixth consecutive time. He is currently the world’s 499th richest person. Vượng also retained his position as Việt Nam’s richest man, with a net worth of US$4.3 billion, a $1.9 billion increase compared to last year. Thao, world’s 766th richest person, is the chief executive officer of budget carrier VietJet Air. She has assets worth $3.1 billion. Vietjet Air operates more than … [Read more...] about Number of VN Forbes billionaires doubles
BUSINESS IN BRIEF 16/1
Survey helps HCM City plan policyThe 2017 Economic Survey in HCM City has provided basic data about the number of enterprises, workers, the economic efficiency of companies and administrative units and proportion of information technology application, delegates heard at last Friday’s meeting to review the survey.“Such data will be a foundation for city authorities to build action plans and set up policies for socio-economic development in an effort to encourage modern science and technology application in all economic industries and administrative units,” Lê Thanh Liêm, vice chairman of the municipal People’s Committee and head of the Steering Committee for 2017 Economic Survey said.According to the results of the survey, HCM City now has 633,637 economic, administrative and religious units, an increase of 27 per cent in comparison with 2011.Of this amount, there are 173,000 enterprises, an increase of 62 per cent in comparison with 2011 and non-State … [Read more...] about BUSINESS IN BRIEF 16/1
THACO aims to open 15 BMW, MINI showrooms
THACO Chairman Tran Ba Duong told a re-launching ceremony of the BMW, MINI and BMW Motorrad brands distributed by THACO in Vietnam held recently in HCM City.Duong said THACO has taken over a number of the former distributor’s facilities, machinery and equipment, including inheriting warranty and after-sales services such as two BMW showrooms at Long Bien (Ha Noi) and Phu My Hung (HCM City), and a MINI showroom in HCM City.“THACO has imported to Vietnam new BMW and MINI models, such as the BMW 3 Series, BMW 5 Series, BMW 7 Series, BMW X1, BMW X3, BMW X5, BMW X6; MINI Cooper, MINI Countryman, MINI Clubman and powerful Motorrad models,” he said.Paul de Courtois, Managing Director, BMW Group Asia, said “Vietnam has been, and still remains, one of the most important and promising markets for BMW Group Asia. We are committed to rebuilding the BMW and MINI brands in Vietnam in close collaboration with THACO.“More importantly, we are also looking forward to … [Read more...] about THACO aims to open 15 BMW, MINI showrooms