Tasco Auto buys into Vietnam's Vinh Phat Motors to build electric commercial vehicles
What's the deal? Tasco AutoDealroom has a profile for this one. Try Dealroom →, a member of Vietnamese conglomerate TascoDealroom has a profile for this one. Try Dealroom →, has completed the acquisition of shares in Vinh Phat Motors (VM MotorsDealroom has a profile for this one. Try Dealroom →), a local maker of trucks, vans, and specialised vehicles. The deal value was not disclosed.
What's the endgame? Tasco Auto wants to expand VM Motors' production and assembly capacity, focusing entirely on purely electric and new energy vehicles. Tasco plans to add resources across market development, distribution, after-sales service, infrastructure, insurance, and finance.
Who is VM Motors? Founded in 2015, the company runs a factory in the Ho Chi Minh City Automotive Mechanical Industrial Park that opened in 2017. It received technology transfer from Isuzu Qingling GroupDealroom has a profile for this one. Try Dealroom → in 2015 and assembles trucks from standardised CKD components under Isuzu warranty standards.
Why now? The two companies plan to upgrade assembly and testing for electric vehicles — covering battery systems, electric drives, high-voltage electrical safety, and technician training. They aim to deliver a first batch of products in 2027 and to develop their own new energy commercial vehicle brand.
The signal: Vietnam's commercial vehicle sector is shifting toward electrification, and established players are moving to secure local manufacturing before the transition accelerates. By pairing VM Motors' factory with Tasco's distribution and finance network, the deal positions both firms to build electric trucks at home rather than import them.
Read more: vietnam.vn
Image credit: Generated with Gemini
