Under the agreement signed last week, the two groups plan to study and promote cooperation in semiconductors, robotics, green energy, batteries, environmental technology, and shipbuilding.

By combining their resources and expertise, the companies aim to develop industrial projects, gain access to new technologies, strengthen manufacturing capabilities, and expand supply chains in Vietnam.

The agreement builds on their existing partnership in a joint venture to develop a vehicle manufacturing and assembly plant for Chery’s Omoda and Jaecoo brands at Hung Phu Industrial Park in the former Thai Binh province, which is now part of the northern province of Hung Yen following an administrative merger last year.

The project is expected to have a total investment of about $800 million across three phases, with a designed annual capacity of 200,000 vehicles. It marks a major step in Geleximco’s expansion into automotive manufacturing.

According to its owebsite, Geleximco has total assets of about VND80 trillion($3.09 billion), annual revenue exceeding VND20 trillion ($773.72 million), and a workforce of more than 10,000. Vu Van Tien serves as the group’s chairman and general director.

Last month, Geleximco announced that it is advancing investment procedures for a chip plant in Hung Yen, with construction expected to begin in November 2026. Geleximco plans to test and integrate Vietnamese-designed control ICs, sensors, and power chips into electric vehicles and the group’s broader industrial ecosystem. The facility aims to launch commercial products in early 2028.

Chery, headquartered in China’s Anhui province, began producing automobiles in 1997. It has since expanded into auto components, intelligent technologies, financial services, and other businesses.

Its automotive brands include Chery, Omoda, Jaecoo, Jetour, and Exeed. Chery Automobile sold more than 2.8 million vehicles worldwide in 2025, including over 1.34 million exported vehicles.