June 28, 2018 / 7:11 AM / 5 months ago

General Motors to transfer Vietnam operation to Vingroup's car unit

HANOI, June 28 (Reuters) - General Motors Co will transfer its Vietnamese operation to local automobile manufacturer Vinfast Trading and Production LLC, the companies said in a joint statement on Thursday.

Vinfast, a unit of Vietnam's biggest private conglomerate, Vingroup JSC, will be GM's exclusive distributor of Chevrolet cars in Vietnam under a partnership signed on Thursday, the pair said.

GM will transfer ownership of its factory in Hanoi to Vinfast where the Vietnamese firm will produce small cars under GM's global licence from 2019, they said, without disclosing a value for the deal. (Reporting by Mai Nguyen Editing by Christopher Cushing)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below