New global manufacturer appear ... in Vietnam

Vingroup walked away with $ 1.5 billion initial investment and wants to compete with Mazda and Subaru
Vietnamese real estate company started producing cars in the Asian country with the ambition to compete with rivals such as Subaru and Mazda to 2025. Similar titles normally cause an indulgent smile, but in the case of Vingroup talking about $ 1.5 billion initial investment, says The Financial Times.

Hanoi-based company has ambitions to become of the building in an engineering giant. As for the automotive division, Vingroup plan provides up to 2025 it produced at least 500,000 cars a year. That would put it roughly in the category of smaller Japanese manufacturers such as Mazda, Subaru and Daihatsu.

Vingroup spokesman confirmed to Reuters, he expects the factory to be built and start operating this year. The planned area of the enterprise is 335 hectares. The first production will be electric bike, and by the end of 2019 from the conveyor must go down and the first cars.

In the starting phase of the project Vietnamese will make two models - five-seater sedan and seven-seat SUV, at an estimated volume of between 100 and 200 000 engines per year. Engines and major components Suspension will be purchased through a license from European and American manufacturers, specified by the company.

Source: www.automedia.investor.bg

Picture source: https://pixabay.com