Second Huyndai plant gets off ground in Ninh Binh
VOV.VN - A ground-breaking ceremony for the second auto manufacturing plant of Huyndai Thanh Cong (HTMV2) was held in Ninh Binh province, northern Vietnam, on September 20.
The plant will be built on an area of 50 hectares with a total investment of over VND3,200 billion. The project is divided into 2 phases, with phase 1 expected to be completed in June 2022, and phase 2 in June 2020.
Huyndai Thanh Cong #2 is designed to produce 100,000 units per year, raising the total production and assembly capacity of Huyndai Thanh Cong Vietnam Auto Manufacturing Corporation, part of Thanh Cong Group, in Vietnam to 170,000 units per year.
Thanh Cong Group CEO Le Ngoc Duc said at the ceremony that the second plant is one of the group’s most important projects which aims to realize the government’s ambition to develop a strong auto manufacturing industry in Vietnam.
A representative of the Ninh Binh provincial administration voiced the province’s commitment to facilitating the group’s operations in the locality.
Huyndai Thanh Cong, the former assembler and distributor of the Republic of Korea’s Huyndai Motor vehicles, built its first plant at Gian Khau industrial park, Ninh Binh province, in 2011.
It has since emerged as one of the country’s leading carmakers with the market share increasing by 18% annually. Its major products are Hyundai SantaFe, Elantra, Grand i10, Tucson and New Porter 150.