On the afternoon of October 19, Shandong Heavy Industry Group - SHIG and Truong Hai Group - Thaco Group signed a strategic cooperation framework agreement in Hong Kong under the witness of Mr. Tan Xuguang, Chairman and CEO of SHIG Group, Weichai Group and Mr. Tran Ba Duong, Chairman of Thaco Group and leaders of both sides.

Mr. Tan Xuguang, Chairman and CEO of SHIG Group, Weichai Group

Mr. Tran Ba Duong, Chairman of Thaco Group

The Vietnamese market is a very important strategic market for Shandong Heavy Industry Group in Southeast Asia in the next 5-10 years. With this strategic agreement, SHIG Group will share the leading strength in powertrain systems, participate more deeply in the commercial vehicle field with Thaco Group, and expand many vehicle lines such as buses and trucks, new fields, together creating many products suitable for the Vietnamese market. SHIG Group also supports Thaco Group to achieve transformation and upgrading strategic, promoting the development of high-quality Vietnamese auto industry.

Mr. Wang Zhijian, Deputy General Director of SHIG Group and Mr. Nguyen Quang Bao, General Director of Truong Hai Auto, on behalf of both parties, signed a strategic cooperation framework agreemen.