Speaking at the event, Chairman of the Thanh Cong Group’s Board of Directors Nguyen Anh Tuan said the factory is equipped with the latest technology from the Republic of Korea and will manufacture hi-quality, eco-friendly and fuel-saving vehicles based on high-precision assembly lines and digital platform, toward becoming a smart factory.

At the second Huyndai Thanh Cong Vietnam factory (Photo: VNA)

The event is also meant to mark the 30th anniversary of Vietnam-RoK diplomatic ties, the 30th anniversary of Ninh Binh’s reestablishment and the 15th anniversary of Thanh Cong Group’s investment in the province, he said.

The second factory spreads out over 50ha and has a total designed capacity of 100,000 units per year, raising the total capacity of two Hyundai Thanh Cong factories in Vietnam to 180,000 units by 2025 to meet demand at home and abroad.

Chairman of the provincial People’s Committee Pham Quang Ngoc said it is one of the 16 key projects for 2021-2025 in the province. Thanh Cong Group and its joint venture partner Huyndai Motor Group have so far invested in eight projects worth nearly 12.3 trillion VND (512 million USD) in Ninh Binh.

Chairman Ngoc also committed all possible support to the investors to do business in the province.