Skoda Completes $500 Million Vietnam Factory Q1 2025

Ford has reported impressive sales in Vietnam, reaching 42,175 vehicles in 2024, marking it as the company's top Southeast Asian market and a 10% increase from the previous year. The Ranger pickup truck accounted for a significant portion of sales, dominating the local market with a 75% share. Meanwhile, Skoda Auto is making strides in Vietnam, with plans to complete a $500 million manufacturing plant in Quang Ninh by March 2025, which will serve as its first facility in Southeast Asia. Skoda's chairman, Klaus Zellmer, emphasized Vietnam's potential as a regional manufacturing hub and its strategic role in accessing the ASEAN market. The plant will focus on raising localization rates and introducing new models, including electric vehicles, which aligns with Vietnam's growing emphasis on technology and innovation in the automotive sector. Both Ford and Skoda's developments reflect Vietnam's increasing importance in the automotive landscape of Southeast Asia.