09:26 | 07/05/2019 Economy
The Truong Hai Auto Corporation (THACO) inaugurated a car manufacturing plant for luxury European brands and debuted the Peugeot Traveller model in the central province of Quang Nam on May 5.
|The ribbon cutting ceremony to inaugurate the plant - Photo: NDO|
Built at a total cost of VND4.5 trillion (US$195.6 million), the plant sits on an area of 7.5ha and has a designed capacity of 20,000 units per year.
Equipped with the latest technology by PSA Group, the plant will assemble luxury European automobiles, including Peugeot, which will undergo strict inspection via a quality monitoring system connecting directly with Peugeot in France.
On the occasion, THACO introduced the Peugeot Traveller Luxury and Traveller Premium models.
The Peugeot Traveller Luxury is a seven-seater car equipped with modern technology meeting the European New Car Assessment Programme’s five-starred standard. Its retail price is VND1.699 billion (US$734,000).
THACO General Director Pham Van Tai said the plant is expected to help popularise the Peugeot brand in Vietnam, vowing that THACO will work closely with PSA to increase the rate of locally-made components to bring the best quality Peugeot autos to the market at affordable prices.