Vietnam is set to have another domestic car brand in 2027 (Photo: Thaco Website).
Tran Ba Duong, chair of Thaco, has confirmed plans to introduce a Thaco-branded passenger vehicle in 2027.
The move will give Vietnam another domestic car brand alongside VinFast, founded by billionaire Pham Nhat Vuong.
In the past, Vinaxuki was also known as a Vietnamese car brand, established by Bui Ngoc Huyen. The company was once recognised for its ambition to produce “made in Vietnam” vehicles and led the light truck market between 2006 and 2009, but later collapsed under mounting bad debts.
Thaco’s decision comes amid significant shifts in Vietnam’s car market over the past year, with domestic brands gaining market share and changing consumer preferences.
In 2025, VinFast delivered 175,099 electric cars, a record that matched the combined sales of three major foreign brands operating in Vietnam: Toyota with 71,954 vehicles, Hyundai with 53,229 and Ford with 50,450.
For 2026, Thaco has identified the year as a period of acceleration following restructuring. The group plans to invest around USD 1.4 billion across its businesses, including automotive, real estate, agriculture and logistics.
Within the group, Thaco Auto, which oversees vehicle assembly and distribution, is expected to disburse more than VND 1 billion (about USD 39,000), in investment capital in 2026. In June, Thaco is scheduled to introduce and begin sales of a Thaco-branded minibus line.
Thaco Auto has set a 2026 revenue target of VND 65.5 trillion (about USD 2.58 billion) from sales of 96,600 vehicles, with a workforce of around 13,000 employees. Export revenue is projected to exceed USD 30.5 million.