In recent years, the Vietnamese automobile market has witnessed strong growth, emerging as one of the most attractive markets in Southeast Asia. According to the Vietnam Automobile Manufacturers Association (VAMA), car sales in 2023 reached more than 370,000 vehicles, and are expected to continue to grow impressively in the next decade. In the first 10 months of 2024, total car sales including VAMA member units and TC Motor, VinFast reached 363,890 vehicles of all types.
The SUV segment (Sport Utility Vehicle – a multi-purpose sports car mainly used for families) is dominating with more than 35% of total sales, reflecting the Vietnamese consumer trend of preferring multi-purpose, convenient and powerful vehicles. In addition, the increase in the middle class – from 15% of the current population expected to double by 2030 – has been driving the demand for personal car ownership.
At the same time, the increasingly complete transport infrastructure, from the inter-regional highway network to the developed urban areas, is the premise for the explosion of the automobile industry. In that context, Vietnam is not only a consumer market, but also a place where international brands seek investment and expansion opportunities.
Deciding to enter the Vietnamese market at the end of 2024, the Omoda & Jaecoo brands - with thorough investment from the joint venture of Geleximco Group (Vietnam) and Chery Group (China) - not only bring economic benefits but also promote the development of the Vietnamese automobile industry.
According to Mr. Simon Liu, General Director of Omoda & Jaecoo Vietnam, the decision to enter the Vietnamese market was not accidental, but the result of a long-term research process and careful preparation by the enterprise. “Vietnam is a market with great potential and we are ready to bring breakthrough products that are suitable for Vietnamese consumption trends,” Mr. Simon Liu affirmed.
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| Omoda & Jaecoo will approach the Vietnamese market by importing completely built-up vehicles from Indonesia and is expected to launch the Omoda C5 model at the end of this month. The factory in Vietnam will be operational from 2026, aiming to achieve a localization rate of at least 40%, contributing to the development of the Vietnamese automobile industry. Photo: Xuan Huong |
It is known that Omoda & Jaecoo Vietnam is building a factory in Thai Binh province. The project is implemented in 3 phases, with a total investment of more than 800 million USD. The first phase is expected to be completed in the first quarter of 2026. During the construction of the factory, Omoda & Jaecoo will approach the Vietnamese market by importing complete vehicles from Indonesia and is expected to launch the Omoda C5 model at the end of this month.
“The end of the year, when shopping demand increases and consumers prepare for the Lunar New Year, is considered the “golden time” to launch new car models. This helps Omoda & Jaecoo make the most of media campaigns and market interest,” said Mr. Simon Liu.
Not just a new car brand, Omoda & Jaecoo also brings a different design philosophy and business strategy, especially in the SUV segment, targeting young, dynamic customers. The car interior is integrated with dual screens, AI voice recognition, and smart entertainment systems, bringing a premium experience.
Along with that, the car is equipped with advanced technology with integrated ADAS system, features such as collision warning, automatic brake assist and blind spot detection to provide maximum safety for users.
Notably, not only stopping at launching products, Omoda & Jaecoo also affirmed its commitment to investing and developing sustainably in Vietnam. Before officially entering the market, the company built a network of agents across the country and started construction of an assembly plant in Thai Binh.
Sharing with reporters of Industry and Trade Newspaper, Mr. Nguyen Dang Quang - Deputy General Director of Omoda & Jaecoo Vietnam - said that the factory in Thai Binh not only helps businesses optimize production costs, meet domestic demand but also improve the competitiveness of products in Vietnam. At the same time, this investment is also consistent with the long-term strategy to enjoy tariff incentives from free trade agreements in the region.
“Increasing the localization rate to promote the domestic automobile industry, the company aims to achieve a localization rate of at least 40% in 2026 – the first year the factory goes into operation. At the same time, with a capacity of 200,000 vehicles/year, we plan to expand exports to right-hand drive markets around the world,” Nguyen Dang Quang revealed.
The launch of Omoda C5 marks the brand’s first step in the Vietnamese market. With a combination of trendy design, advanced technology, and a commitment to long-term investment, this brand not only brings quality products but also affirms its position in the Vietnamese automobile industry.
In the context of fierce competition, Omoda & Jaecoo has fully prepared in terms of products, strategies, and long-term vision to meet the expectations of Vietnamese consumers. This brand does not stop at conquering the market, but also promises to contribute to the development of the Vietnamese automobile industry.
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