KUALA LUMPUR: Tan Chong Motor Holdings Bhd has signed a memorandum of understanding (MoU) with China carmaker SAIC Motor International Co Ltd to expand their automotive business in Vietnam.
This includes exploring cooperation in the assembly, sales, import and distribution of motor vehicles.
“The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,” the company said in a filing with Bursa Malaysia last Friday.
Tan Chong Motor owns automotive assembly plants in Vietnam and Myanmar. The company also distributes passenger and commercial vehicles in Laos, Cambodia, Vietnam and Myanmar.