In 2024, THACO Group will recruit about 15,000 new employees.

Although 2024 is expected to face many challenges and consumption will be as low as in 2023, THACO will continue to invest heavily, especially in mechanical engineering, automobiles and agriculture.

Selling 95,400 cars of all kinds

In the New Year message sent to all employees, Mr. Tran Ba Duong, Chairman of the Board of Directors of THACO Group, said that he will continue to promote investment in the company's fields of operation.

Peugeot 408 car line launched in Vietnam market in October 2023

Specifically, in the automobile segment, THACO Auto will promote investment in the retail system with models of multi-brand passenger car showroom complexes, passenger car showroom complexes combined with Trade - Service Centers, THACO Truck & Bus Showrooms and pilot used car sales.

There will be 17 showrooms newly invested by THACO Auto in 2024. In addition to 9 passenger car models; 13 new truck models introduced in 2024, 06 bus models under the THACO brand will also be launched on the market.

Currently, THACO Auto is manufacturing, assembling and distributing passenger cars of the brands BMW, Mini, Peugeot, Mazda, Kia. In the truck and bus segment, THACO is also cooperating with the brands Mitsubishi, Mercedes-Benz, Volvo… and developing its own THACO brand.

THACO Auto's sales plan in 2024 is 95,400 cars of all kinds. Of which, there are 76,200 passenger cars and 19,200 trucks and buses, accounting for 38% of the domestic car market share; exporting more than 1,600 cars. Consolidated revenue is 68,400 billion VND.

In its plan, THACO Auto will invest in building a new R&D Center with a larger scale, synchronous and modern equipment, to meet the requirements of technological development in automobile manufacturing and assembly.

Investment capital for the automobile sector will be 2,100 billion VND in 2024.

To achieve these goals, THACO Auto will also continue to recruit additional leadership staff while enhancing vocational training and improving productivity in the field of after-sales services at showrooms and affiliated dealers.

Also closely related to automobiles, in the supporting industry sector, THACO Industries will continue to invest and put into operation new factories in Chu Lai in 2024.

These are the High-end Passenger Car Glass Factory; the Auto Body and Frame Components Factory; and the Passenger Car Interior Complex. The existing factories will continue to be upgraded to improve productivity, efficiency and quality in production.

Spring factory in Chu Lai

In this supporting industry sector, THACO Industries is also researching investment in spare parts manufacturing factories in the North and a Mechanical Engineering and Supporting Industry Center in the South.

THACO Industries' new R&D Center will also come into operation after being invested in a larger scale and more specialized than THACO Auto's R&D Center, meeting the increasingly high export requirements in terms of types and quality of machinery, equipment and components.

Notably, THACO Industries will establish a Sales Company in the US for the North American market (including the US, Canada, Mexico), 2 Representative Offices in Europe and Austrialia to support existing customers and develop the market.

THACO Industries' consolidated revenue in 2024 is expected to be VND13,000 billion, of which export revenue is USD250 million. Investment capital for the plans is VND2,100 billion.

This mechanical engineering segment will also recruit 980 more employees (including 321 engineers for the R&D Center), bringing the total number of THACO Industries employees by the end of 2024 to 8,620.

Agriculture recruits more than 12,000 new people

2024 is also expected to mark a major turning point for THACO's agricultural sector.

Four large-scale, integrated/circular agricultural production complexes on an organic basis with stable output and quality in the Central Highlands, Cambodia and Laos will continue to be invested in to complete the model.

THACo Agri's pig farm in Binh Dinh

According to the plan, by the end of 2024, THACO Agri will have 11,600 hectares of specialized banana growing area and 7,100 hectares of fruit trees combined with cattle farming...

The total herd size reached over 151,500 cows (including 104,500 breeding cows and 47,000 beef cattle); the herd size reached 136,600 pigs (including 20,000 breeding pigs).

THACO Agri also plans to invest in a center for breeding and applying science, technology and new generation specialized machinery in agriculture.

THACO Agri's new investment plans are expected to cost about VND5,800 billion and consolidated revenue is targeted at VND6,600 billion, of which exports are USD190 million.

With this scale of operations, THACO Agri will also recruit an additional 12,600 employees, bringing the total number of employees in the agricultural sector by the end of 2024 to about 34,300 people.

Implementing many new projects

In 2024, Thaco will focus on implementing traffic infrastructure projects, industrial parks and urban areas in Chu Lai, including the existing mechanical - automobile industrial park (243 hectares); expanded mechanical - automobile industrial park (115 hectares); agricultural industrial park (451 hectares); port, logistics and non-tariff area (173 hectares); dredging Ky Ha shipping channel; non-tariff area, Tam Hoa port, Cua Lo channel; Chu Lai urban area phase 1 (195 hectares).

Part of Truong Hai - Chu Lai mechanical and automobile industrial park

THACO also plans to participate in the bidding to select an investor to develop the Chu Lai Urban Area after the Quang Nam Provincial People's Committee approves the 1/2000 Zoning Plan.

In Chu Lai, THACO's total investment capital to be disbursed in 2024 is VND3,894 billion. The total budget contribution in Quang Nam province is VND20,000 billion, an increase of 16% compared to 2023.

Other member units of THACO Group, THADICO and THISO, will also start 12 projects, including 02 projects in the North and 10 projects in the South to meet THISO's plan to develop a chain of commercial centers in the period of 2024-2027. In addition, THADICO continues to implement 36 projects on THACO's existing land funds...

To realize its plans, THACO Group will also recruit about 15,000 new employees (including the agricultural sector as mentioned above) in 2024.

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