According to the announcement published by the Ho Chi Minh City Stock Exchange on August 11, Savico (HOSE code: SVC) has just passed a resolution approving the investment policy to contribute capital to Tasco RT.

Specifically, Savico contributed capital to Tasco Auto Trading Company Limited (Tasco RT) with an estimated amount of VND720 billion. Of which, Savico's equity capital is VND220 billion, and borrowed capital is VND500 billion.

Currently, Tasco RT's charter capital is 300 billion VND. Thus, after contributing enough capital, Savico's ownership ratio in the enterprise is 70.59%.

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The leading domestic car distribution ecosystem wants to develop a chain of Geely – Lynk & Co brand showrooms nationwide. Photo: Tasco

After completing the capital contribution transaction, Mr. Nguyen Hai Ha, General Director of Savico, will represent Savico's capital at Tasco RT. Mr. Ha will also implement the capital contribution and supervise the investment in developing the showroom chain, and sign relevant contracts and agreements during the implementation.

According to information from the enterprise, the purpose of the above capital contribution is to invest in developing the operations of the Geely – Lynk & Co brand showroom chain nationwide. The capital contributions can be divided into different phases, with phase 1 investing in the showroom chain in the Northern region.

Tasco RT was established in November 2024, with its main registered business line being the retail sale of passenger cars (9 seats or less). Before being acquired by Savico, Tasco RT was a subsidiary of Tasco Auto.

By the end of the second quarter of 2025, Tasco Joint Stock Company (HNX code: HUT) owned 96.45% of capital at Tasco Auto and 52.17% at Savico. Notably, in June 2025, Mr. Ngo Duc Vu, Chairman of the Board of Directors of Savico, was appointed Vice Chairman of the Board of Directors of Tasco.

According to Tasco's annual report, in 2024, member company Tasco Auto achieved sales of more than 40,555 vehicles, accounting for 13.7% of Vietnam's automobile market share.

In 2024, Lynk & Co (a subsidiary of Geely, China) will operate in Vietnam for the first time with 6 specialized showrooms and take advantage of Tasco Auto's 106 showroom system to expand its market share. In 2025, Tasco will continue to expand its showroom network, aiming to reach 180 showrooms.

Previously, in September 2024, Tasco and Geely signed a joint venture contract to assemble and distribute cars in Vietnam, building a car assembly plant in Thai Binh , with a total investment of about 168 million USD, phase 1 capacity reaching 75,000 cars/year.

The factory is expected to start construction in the first half of 2025 and deliver the first models to customers in early 2026. However, to date, there is still no information about the factory's groundbreaking.

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Source: https://vietnamnet.vn/hai-dai-gia-viet-bat-tay-nhau-ban-xe-o-to-trung-quoc-2430985.html