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At the 2025 Vietnam Private Sector Panorama High-Level Conference, Geleximco Chairman Vu Van Chien remarked that despite decades of state support, Vietnam\u2019s industrial ecosystem remains incomplete, with automotive localization at just 5\u201320% and machinery around 25\u201330%, leaving much of the value-added abroad.<\/p>\n\n\n\n
Today, the tide is turning. The Vietnamese government has identified the automotive industry as a national priority, focusing on local component production, domestic supply-chain collaboration, and upstream industrial development. The sector\u2019s output has grown by over 16% annually, drawing major global automakers and parts suppliers to invest long-term.<\/p>\n\n\n\n
VinFast, Vietnam\u2019s only brand with full-chain design-to-production capability, has reached over 60% localization, aiming for 84% by 2026. Its Hai Phong industrial complex integrates hundreds of domestic and foreign suppliers across batteries, chassis, bodywork, and electronic systems.<\/p>\n\n\n\n
Foreign automakers are also deepening local integration. Toyota Vietnam maintains a localization rate of 33\u201337%, with models like the Innova at 37% and Vios at 34%. THACO Group, assembling Kia, Mazda, and Peugeot vehicles, surpasses 40% in certain models. Its Chu Lai Industrial Zone is now Vietnam\u2019s largest auto manufacturing and export hub, sending components to South Korea and India.<\/p>\n\n\n\n
To reinforce the supply chain\u2019s backbone, Vingroup has launched VinMetal JSC, investing VND 10 trillion (approx. US$400 million) to produce 5 million tons of high-grade steel annually, targeting EV manufacturing and infrastructure projects. This marks Vietnam\u2019s evolution from an assembly hub to a true manufacturing base.<\/p>\n\n\n\n
Meanwhile, Geleximco and China\u2019s Chery Automobile are building a new plant in former Thai Binh Province (now Hung Yen), with annual capacity of 200,000 vehicles, set to open next year. The facility will serve both the domestic market and ASEAN exports\u2014further signaling Vietnam\u2019s transition from \u201cimport assembly\u201d to \u201cregional manufacturing powerhouse.\u201d<\/p>\n\n\n\n
Together, these developments show Vietnam entering a new phase of industrial maturity. From metallurgy to electronics and EV components, localization is no longer an ambition\u2014it\u2019s becoming a defining feature of Vietnam\u2019s automotive ascent in Asia.<\/p>\n","protected":false},"excerpt":{"rendered":"
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Today, the tide is turning. 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