Under the agreement, GM and SAIC - WULING will provide components to TMT Motors to exclusively manufacture, assemble and distribute Wuling electric cars in Viet Nam.
Automobile stocks are expected to lure more investment thanks to the growth of market consumption, forecast to reach over 500,000 vehicles per year from 2021.
The TMT Motor Joint Stock Company (TMT) set a goal to sell 10,560 cars
this year - 44 per cent more than in 2015, the company''s executive board
announced.
The TMT Motor Joint Stock Company inaugurated a truck production line
with an annual capacity of 20,000 units in the northern province of Hung
Yen on March 1.
A Vietnamese auto company''s plan to assemble and sell the world''s
cheapest car in Viet Nam has been met with skepticism as the market
seems lukewarm to cheap cars.