THACO again breaks into global export market buses and vehicle components
THACO AGAIN BREAKS INTO GLOBAL EXPORT MARKET WITH ITS BUSES AND VEHICLE COMPONENTS
THACO organized a handover ceremony to export its THACO buses to the Philippines and vehicle components to South Korea and Japan markets from Chu Lai Port on December 28, 2019.
The event held a significant meaning for Vietnam’s auto industry and THACO given the regional integration and competition. Accordingly, it has reinforced the realization of the Vietnamese automaker’s strategies in exporting its vehicles and automotive parts which stay in line with Vietnam’s auto industry development strategies to 2025, vision to 2035 in reducing trade deficit and stabilizing the balance of trade.
To date, THACO has increased the localization ratios: over 60 percent for buses, 40 percent for trucks, 25 percent for passenger cars (some have achieved over 40 percent).
In 2019, the company has exported 186 vehicles, including 21 buses (to the Philippines, Thailand, Singapore), 33 trucks (to Cambodia), 121 passenger cars (to Myanmar and Thailand), and 11 semi-trailers (to the US).
In December 2019, sampling THACO buses were exported to Singapore while 120 Kia Cerato cars were sent to Myanmar. In 2020, the Group expects to send 1,026 vehicles overseas.
On the same day, THACO also exported its automotive parts and components containers to South Korea and Japan, including AC compressors, seat covers, gear lever covers on passenger cars, and airport luggage trolleys.
In recent years, THACO has exported numerous automotive components and mechanical products (bumpers, electrical wires, leaf springs, floorboards, airport trolleys, seat covers, AC compressors, bus components, agricultural mechanical products, …) to South Korea, Japan, Malaysia, Cambodia, Russia, Germany, Australia, Laos, Turkey, Kazakhstan, Kenya. To date, its export revenues has totaled USD26 million. Expectedly, its export volumes will increase 3-fold larger in years to come.