The ribbon cutting ceremony to inaugurate the plant. (Photo: NDO)
The facility, receiving total funding of VND 4.5 trillion (USD 195.6 million), covers an area of 7.5 hectares and has a designed capacity of 20,000 cars per year.
The THACO luxury car plant has a modern production chain and the latest technology meeting the technical requirements of French auto manufacturer PSA Group.
The investor noted that the vehicles manufactured by the plant will undergo strict checks and inspections through a quality monitoring system connected directly with Peugeot in France prior to being rolled out on the market, apart from being tested on a 2.4-kilometer testing road under all weather and traffic conditions.
The plant is expected to manufacture and assemble luxury European automobiles, especially Peugeot cars, to meet Vietnamese residents’ rising demand for cars.
A Peugeot car is seen at Thaco luxury car plant. THACO has put into operation the THACO luxury car plant at the Chu Lai Open Economic Zone in the central province of Quang Nam. (Photo: THACO)
Besides this, THACO introduced the Peugeot Traveller Luxury and Traveller Premium models to domestic customers on the occasion.
Vo Van Minh, deputy general director of THACO Passenger Car Company, an arm of THACO Group, said that after the launch of Peugeot 3008 and 5008, Peugeot Traveller was the next car produced and assembled by the firm.
This is the first specialized high-end passenger car rolled out by THACO to contribute to diversifying Peugeot-branded products in the local market.
The Peugeot Traveller Luxury model, whose retail price is some VND1.7 billion (USD 734,000), is a high-end seven-seater automobile equipped with modern technology meeting the European New Car Assessment Programme’s five-starred standard, that is popular in Europe, Asia and South Africa. Meanwhile, Peugeot Traveller Premium cars sell for VND 2.25 billion per unit.
THACO General Director Pham Van Tai said the plant is expected to help popularise the Peugeot brand in Vietnam, vowing that THACO will work closely with PSA to increase the rate of locally-made components to bring the best quality Peugeot autos to the market at affordable prices.
