Tan Chong Motor Holdings has signed a memorandum of understanding (MoU) with China automaker SAIC Motor to explore cooperation in the assembly, sales, import and distribution of motor vehicles in Vietnam, The Star reports.
It was not revealed which of the the SAIC brands will be involved under the agreement – the Chinese automotive conglomerate has Maxus, MG and Roewe, among others, under its umbrella. Tan Chong Motor said that the proposed project – if it materialises – could provide the company with the opportunity to expand its foothold in the automotive industry in Vietnam, it said in a filing with Bursa Malaysia last week.
The company owns automotive assembly plants in Vietnam and Myanmar, and also distributes passenger and commercial vehicles in Laos and Cambodia. It is however set to halt its Nissan-based activities in Vietnam in September.
In December last year, it was reported that Nissan was terminating its JV agreement with Tan Chong’s wholly-owned subsidiary, ETCM (V), the latter losing the rights to import and distribute Nissan vehicles and parts in the country from September 10 this year.
The company also assembles Nissan vehicles in Myanmar. Back in 2016, it was reported that it would start building the Almera (known as the Sunny in that market) at an existing factory, but was set to expand production upon relocating to a new 50-acre facility in Bago, located 80 km northeast of Yangon, in 2018.
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Old men Tan Chong finally woke up and now jual to China? Lmao!
What happen to their Nissan? No longer reliable? Or was it due to TC themselves aren’t reliable that made Nissan to ditch them in Vietnam?
So with this partnership, it’s high time TC to change their local managers & staffs for Mainlanders. Their old men had been sleeping for far too long.
They hardly market Nissans in Vietnam.
About the only nissan I see is the Navara, and that in the rural areas.
Honda, Toyota, Mazda and the Koreans (and by that I also include Chevy) dominate the smaller car market.
The B segment is dominated by the Mazda 2 and City, with the Mazda going in lower than the city. Last I heard the Almera/Sunny was going for significanty under 500m, far less than the city (around 600m+), but still no takers.
Vietnam is a potential big market with 100 million population and minimal vehicle ownership. Nissan doesn’t want to share the baby with babysitter TC
The why allowed them to bring Nissan into that market and even setup factory there? Doesn’t make sense unless ETCM had serious underperformed to Nissan’s expectation and that is exactly what I heard happened.
Better sell Subaru car.
Subaru sold by the other (SG based) side of the Tan family, the one’s that’s more modern, forward thinking. Headed by Glenn Tan.
No love loss between these 2 families.
There is a reason why Nissan terminated TC.
Let’s see how long before SAIC wakes up.
ETCM can’t even bring new models of Nissan our country, and now wants to explore Vietnam? What nonsense.