AsemconnectVietnam - Tasco Auto Invests in Acquiring Shares in Vinh Phat Motors, Developing Purely Electric and New Energy Commercial Vehicles in Vietnam.

Tasco Auto Joint Stock Company - a member unit of Tasco - has completed the acquisition of shares in Vinh Phat Motors Co., Ltd. (VM Motors), aiming to develop its production and assembly capacity for commercial vehicles, trucks, vans, and specialized vehicles, focusing 100% on purely electric and new energy vehicles.
VM Motors was established in 2015, owning a factory at Lot G1, Road No. 9, Ho Chi Minh City Automotive Mechanical Industrial Park, which opened in 2017. The company received technology transfer from Isuzu Qingling Group in 2015 and assembles trucks from synchronized CKD components, applying a warranty policy according to Isuzu standards. Tasco expects to contribute resources to market development along with a distribution ecosystem, after-sales service, infrastructure, insurance, and finance.
In the next phase, Tasco Auto and VM Motors plan to focus on upgrading assembly and testing capabilities for electric vehicles, including battery systems, electric drives, high-voltage electrical safety, and technician training, aiming for the first batch of products in 2027. They will also research collaborative development of a separate brand for new energy commercial vehicles.
Source: VITIC/Bao Tai chinh – Dau tu