Hanoi (VNA) – From mainly producing and assembling vehicles for the domestic market, a growing number of Vietnamese automobile manufacturers are stepping up exports, expanding into overseas markets and gradually strengthening their position in global value chains.
Testing made-in-Vietnam cars
For many years, Vietnam’s automobile industry largely developed around production and assembly to meet domestic demand. A limited market size, underdeveloped supporting industries and low localisation rates meant that exports of completely built-up (CBU) vehicles had yet to become a major growth driver for the sector.
However, the picture has changed markedly in recent years. Major brands such as THACO, Hyundai Thanh Cong, VinFast and KIM LONG MOTOR are increasingly exporting CBU vehicles and components to international markets.
The move not only addresses market expansion but also serves as a rigorous test of technological capacity, product quality and the ability to participate in global supply chains.
Most recently, on August 14, 2026, Hyundai Thanh Cong exported Hyundai vehicles manufactured in Ninh Binh to Mexico and Australia. The move marked a notable expansion, as vehicles made in Vietnam entered markets in North America and Oceania for the first time, alongside Asian markets previously reached by the company.
Under its plan, Hyundai Thanh Cong expects to export 15,280 units in 2026, including 10,160 finished vehicles and 5,120 component kits. Over the next five years, the company aims to expand into the Middle East, Africa, Central America, South America and Russia, with total exports projected at 187,000 units. From 2030, it aims to become a global export hub with annual output exceeding 60,000 vehicles.
Le Ngoc Duc, Vice Chairman of Thanh Cong Group and General Director of Hyundai Thanh Cong Vietnam, said the process began with building a solid manufacturing foundation, mastering technology and quality standards before gradually expanding into international markets. Meeting the stringent requirements of leading markets, he added, demonstrates the reputation, manufacturing capacity, technology and quality of Vietnam’s automobile production centres in the international market.
For THACO, exports are built on a relatively comprehensive manufacturing ecosystem in Chu Lai. The company exports not only buses, trucks and other automotive products but also components, spare parts and mechanical products. In 2026, it targets revenue of more than 65.5 trillion VND (2.52 billion USD), including over 30.5 million USD from exports. It also plans to step up export sales, develop products tailored to individual markets and expand its THACO-branded vehicle lines.
In electric vehicles, besides leading domestic EV sales, VinFast exported its 38th shipment in July, with more than 5,000 vehicles to European and other markets, less than four years after its first overseas batch of 999 vehicles.
In the commercial vehicle segment, KIM LONG MOTOR made its mark by shipping its first batch of 10 diesel and all-electric buses to Thailand in March 2026, under a contract for 300 vehicles scheduled for delivery during the year. Notably, some exported models have achieved localisation rates of more than 80%, reflecting the sector’s growing capacity to generate domestic added value.
Exporting CBU vehicles is just the beginning
The growing number of exporters shows that Vietnam’s automobile industry is entering a new stage of development. However, international markets also present major challenges related to localisation, supporting industries, technological capabilities, human resources and country-specific technical standards.
Exporting vehicles to demanding markets is not simply a question of output. It is a measure of a company’s ability to control quality, manage supply chains and meet stringent environmental and safety standards.
A representative of Hyundai Thanh Cong said its international expansion has been carried out in stages, beginning with trial markets such as the Republic of Korea, Peru, the Philippines, Thailand, Malaysia, Myanmar and Kazakhstan before moving into markets with higher regulatory standards such as Mexico and Australia. This process has helped the company strengthen its organisational capabilities and optimise products to meet diverse requirements.
Recognising this, leading companies such as THACO, Hyundai Thanh Cong, VinFast and KIM LONG MOTOR share a strategy of expanding beyond vehicle production into R&D, core technologies and supply chains.
According to industry experts, Vietnam’s automobile sector is shifting strongly from a mindset of “producing for the domestic market” to “producing to compete globally”. If the question in the past was whether Vietnam could assemble automobiles, the challenge has now moved to a new level: Can made-in-Vietnam cars compete in global markets, and how much value can be retained domestically? The answer will determine Vietnam’s position on the regional and global automobile manufacturing and export map./.
