Taiwan's SYM to Make Cars in Vietnam
SYM Vietnam Co. Ltd, an affiliate of Taiwan-based Sanyang Motor Co, has commenced construction on a car production factory in southern Vietnam, becoming the 14th foreign-led carmaker in the country, local media reported.
SYM Vietnam’s factory, costing some US$72 million, will manufacture car parts and engines, assemble light trucks with load of less than 3.5 tons and passenger cars with 6-9 seats.
In the first phase, the facility will turn out light trucks branded SYM for the Vietnamese market. It is scheduled for operation from early 2008. The car plant is situated on 33ha in Dong Nai province-based Nhon Trach Industrial Zone II.
According to a Ministry of Industry official, Vietnam will remove more than 120,000 low-quality trucks, which are called cong nong, from 2008. In addition, the country is getting rid of aging vehicles.
The demand for trucks and buses will be very high in the country in the coming time, he said.
Apart from the car project, SYM Vietnam is also manufacturing motorbikes in Vietnam. (VNEconomy)
Vietnamese
