Hyundai Palisade manufactured in Vietnam exported to Thailand

Hyundai Thanh Cong Vietnam Manufacturing (HTMV) - a joint venture between TC Group (Thanh Cong Group) and Hyundai Motor recently organized a ceremony to export Palisade cars to Thailand. This is the fourth batch of cars exported in October, bringing the total number of Palisade cars exported to the Thai market to 110 units.

Hyundai Palisade is currently distributed in Vietnam with prices starting from 1.469 billion VND (Photo: TC).

The event marks a milestone in HTMV's manufacturing capacity, demonstrating that Hyundai's car models produced in Vietnam meet export standards. With Palisade, the car meets the Regional Value Content (RVC) of over 40%, qualifying for tariff incentives under the ASEAN Free Trade Agreement (AFTA).

In addition to Palisade, which is Hyundai's most premium SUV model, other car models in different segments are also expected to be expanded for export to markets in the region such as Myanmar, the Philippines, and Indonesia. At the end of December 2023, Hyundai Thanh Cong exported Solati (16-seater minibus) and Mighty N250 (light truck).

It is worth mentioning that Thailand is also a strong market for exporting cars to Vietnam. In 2023, the number of cars manufactured in Thailand imported into Vietnam reached 53,942 units, with a trading value of over 1.14 billion USD. The imported cars from Thailand accounted for 45.35% in terms of quantity and 40.46% in terms of the value of the total imported cars into Vietnam.

Hyundai Thanh Cong's new progress contributes to bringing "Made in Vietnam" cars to the world. VinFast has exported its electric car models to the U.S., Canada, Indonesia, the Philippines, among others. Thaco has exported compact cars to ASEAN countries, as well as semi-trailers to the U.S., and also exports automotive components.