Headquartered in Shenzhen, TAILG’s tenth global intelligent manufacturing base in the northern part of Vietnam has officially commenced production, signaling TAILG’s comprehensive entry into the competitive Vietnamese market, which is a battleground for both domestic and international enterprises.
The company stated on Monday that as part of its global strategy, the first batch of “Made in Vietnam” TAILG long-range electric vehicles will be introduced in Me Linh District, Vinh Phuc Province.
As the tenth R&D and manufacturing base for TAILG electric vehicles worldwide, the Vietnamese intelligent production complex covers an area of 40,000 square meters and is designed to have an annual production capacity of 350,000 vehicles, becoming an important pillar for TAILG’s expansion into overseas markets. The base integrates technology R&D, intelligent manufacturing, sales, and after-sales service functions, which will help to accelerate the electrification process of bicycles in Vietnam.
The company stated: “With the launch of this base, TAILG will introduce advanced technology and green travel solutions to Vietnam, while expanding its influence in Southeast Asia and accelerating the globalization process of electric vehicles.” In 2023, TAILG upgraded its global expansion strategy, focusing on establishing brand stores globally, especially in the Southeast Asian region, to develop benchmark markets in Vietnam, Indonesia, and other places, promoting the brand’s globalization process.
TAILG considers Vietnam a crucial market for its global strategy. According to TAILG, Vietnam has 45 million motorcycles, but the electrification rate is only 9%. Supported by policies such as “restricting motorcycles” and “changing from oil to electricity,” Vietnam’s electric vehicle market is growing rapidly and is expected to exceed 8 billion US dollars by 2025. Relevant media have said that by 2030, the market size will grow to 10.2 billion US dollars.
At the launch ceremony, Xiao Tianbao, the director of TAILG International’s overseas business division in Vietnam, announced a three-year strategic plan and signed cooperation agreements with the first batch of strategic customers.
A report from HSBC in May stated that Vietnam’s electric vehicle market is the largest in ASEAN and the second-largest in the world, following China. It is expected that two-wheelers will become the leader in Vietnam’s electrification trend. HSBC said that compared with electric cars, electric vehicles are cheaper, have a higher degree of similarity in vehicle parts, and already have a high local production rate. The country’s electric vehicle market includes large enterprises such as local companies VinFast, Selek Motors, Dat Bike, Son Ha Group’s EVGO, Pega, Italian Piaggio, Taiwan’s Dibao, and Hong Kong’s Yadea.
Looking ahead, Vietnam’s electric vehicle (EV) market still has ample room for growth. HSBC estimates that by 2036, the country’s total annual sales volume of electric vehicles and electric cars may increase from less than 1 million in 2024 to over 2.5 million.
