Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South Korean carmaker Hyundai Motors, along with Thanh Cong Group, has started constructing its second plant in Vietnam’s Ninh Bin Province with an investment of more than $140mn, according to media reports. Once the plant becomes operational, the joint venture’s (JV) annual production capacity will more than doubled to 170,000 units, from the present 70,000 units.


The first phase of the plant is likely to be complete by June 2022 and the second by June 2025.


Auto sales by Hyundai and Thanh venture in Vietnam overtook usual Japanese favorites like Toyota, Mitsubishi, Mazda, and Honda in August, according to the data by Vietnam Automobile Manufacturers’ Association. The JV sold 5,367 cars accounting for 19.5pc of the August market. Hyundai’s sister concern Kia Motors’ Vietnamese JV became a close second with a 16pc and 4,412 vehicles sold in the month.  

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