Geely Auto has entered the Vietnamese automotive market with the introduction of Coolray SUV as its first model.
The move is part of the company's broader expansion into Southeast Asia.
In a press release, Geely said it is implementing a "multi-energy" product strategy in Vietnam's automotive sector. The Coolray, their first model in this initiative, has surpassed one million units in sales.
Geely Automobile International (GAIC) vice president Evin Ye said: "Our expansion into Vietnam represents a strategic cornerstone of Geely's global vision. We're introducing a diverse product portfolio while building robust local operations to deliver mobility solutions that truly address the unique needs of Vietnamese customers.
“Through local manufacturing investment and supply chain collaboration, we aim to contribute to Vietnam's automotive sector, fostering mutual growth and prosperity."
In the second quarter, Geely plans to expand its Vietnamese portfolio with the luxury SUV Monjaro and the next-generation pure electric SUV, the Geely EX5.
The Monjaro represents the brand's luxury offerings, while the EX5 will be Geely's first electric vehicle in the country.
Over the next three years, nine models will be introduced to the Vietnamese market that will encompass traditional internal combustion engines (ICE), plug-in hybrid electric vehicles (PHEV), and battery electric vehicles (BEV).
The lineup will include both five-seat and seven-seat models, designed to meet local market needs.
In a move to bolster local manufacturing, Geely Auto Group has formed a strategic alliance with Vietnam's Tasco Group to develop an automotive assembly facility in Thai Binh Province.
The $168m investment will cover 30ha, with construction set to begin this year and production expected by late 2026.
The plant will have an initial annual output of 75,000 vehicles and will be capable of producing multiple models, starting with Geely and Lynk & Co vehicles, and potentially expanding to additional brands in the future.
Also in January, Geely Auto Group entered the Indonesian market with the pre-sale of its electric SUV, the Geely EX5.
The EX5 includes a short blade battery, Global Intelligent Electric Architecture (GEA), CTB technology, and an 11-in-1 intelligent electric drive.
