Chinese automaker Geely plans to build a US$168 million assembly plant in Vietnam, slated to begin in the first half of 2025.

Under a joint venture signed in the Vietnamese capital Hanoi, Geely will partner with Tasco Joint Stock Company, contributing 36% of the total investment. Tasco covers the rest.

The new assembly plant will have an annual capacity of 75,000 vehicles, with deliveries to local customers starting as early as 2026.

This initiative follows Geely’s previous investments in the region, including a 49.9% acquisition of Malaysian automotive company Proton in 2017.

The company is also making ongoing efforts to establish an automotive hub in West Malaysia, targeting an annual production capacity of 500,000 vehicles by 2035.