Hyundai opens new Vietnam car factory with 100,000-unit capacity

Joint venture with local conglomerate aims to keep top market spot

20221117N Hyundai

Hyundai sold about 70,000 vehicles in Vietnam in 2021, surpassing Toyota. © Reuters

TOMOYA ONISHI, Nikkei staff writer

HANOI -- A joint venture between South Korea's Hyundai Motor and Vietnamese conglomerate Thanh Cong Group has opened a sprawling new factory in northern Vietnam, as it looks to expand production and hold on to its top spot in the market.

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