Auto manufacturer Thanh Cong Group and Huyndai Motor Group inaugurated the second Huyndai Thanh Cong Viet Nam factory in Gian Khau Industrial Park, the northern province of Ninh Binh, on November 15.

Speaking at the event, Chairman of the Thanh Cong Group’s Board of Directors Nguyen Anh Tuan said the factory is equipped with the latest technology from the Republic of Korea and will manufacture hi-quality, eco-friendly and fuel-saving vehicles based on high-precision assembly lines and digital platform, toward becoming a smart factory.

The event is also meant to mark the 30th anniversary of Viet Nam-RoK diplomatic ties, the 30th anniversary of Ninh Binh’s re-establishment and the 15th anniversary of Thanh Cong Group’s investment in the province, he said.

The second factory spreads over 50ha and has a total design capacity of 100,000 units per year, raising the total capacity of two Hyundai Thanh Cong factories in Viet Nam to 180,000 units by 2025 to meet demand at home and abroad.

Chairman of the provincial People’s Committee Pham Quang Ngoc said it is one of the 16 key projects for 2021-2025 in the province. Thanh Cong Group and its joint venture partner Huyndai Motor Group have so far invested in eight projects worth nearly VND12.3 trillion (US$512 million) in Ninh Binh.

Chairman Ngoc also committed all possible support to the investors to do business in the province. — VNS