Geely, after the United States, the United Kingdom, and Sweden, sells more than 4 million vehicles and discusses building an electric-vehicle plant in a northern Vietnamese province

A working delegation from Phu Tho Province visited Geely Holding Group on the afternoon of April 12 to discuss potential investment in high-tech projects and cooperation in the province as part of ongoing investment promotion activities.

Meeting overview and investment focus

Mr. Tran Duy Dong, Chairman of the Phu Tho Provincial People’s Committee, presented the province’s geographic location, transportation infrastructure, human resources, and investment environment. He said Phu Tho has strong potential following its development momentum, citing that it has attracted 742 FDI projects with total registered capital of nearly USD 14 billion from 27 countries and territories.

He noted that Chinese investors have invested in 180 projects with total capital of over USD 3.5 billion, representing about 24% of projects and 26% of FDI capital. He also referenced large groups such as Pacific Construction Group and JD Group as among those exploring investment in the locality.

Geely’s capabilities and development priorities

Geely representatives highlighted the group’s focus on manufacturing excellence, technology innovation, and talent development, alongside efforts to advance mobility technologies and green solutions, including electric-vehicle technology, renewable energy, and global smart-mobility services.

Geely Holding Group, established in 1986, operates modern manufacturing facilities in China, the United States, the United Kingdom, Sweden, Belgium, and Malaysia. The company entered the automotive industry in 1997.

Geely reported that in 2025 its total vehicle sales surpassed 4 million units, up 26% year over year. It also stated that over the past 11 years, cumulative investment in research and development exceeded RMB 250 billion, with more than 30,000 R&D and design personnel.

Discussion on an electric-vehicle plant in Phu Tho

During the session, the two sides held in-depth discussions on the possibility of investing in an electric-vehicle plant in Phu Tho. The talks focused on key conditions including industrial park planning and infrastructure, land parcels, labor quality, technology transfer capabilities, and investment incentives.

Phu Tho and Geely agreed to continue exchanging views and studying specific cooperation contents in the near future, with the aim of unlocking prospects for large-scale electric-vehicle projects in the province.

Phu Tho’s development targets and expected trajectory

Phu Tho’s leaders linked the cooperation discussions to the province’s development direction under its Adjustment of the Provincial Plan, approved by the Provincial People’s Council in Resolution 66/NQ-HĐND. The development target through 2030 includes positioning Phu Tho as a growth pole in the capital region and the Northern midland and mountainous area, and as a center for modern industry, commerce, logistics, tourism, healthcare, and high-quality education, including hosting large cultural events tied to local heritage.

The plan also sets a target for Phu Tho to serve as a national and international event venue. For 2026–2030, the province aims for average GRDP growth of about 11–12% per year, with GRDP more than doubling relative to 2025.

Looking toward 2050, Phu Tho intends to become a centrally governed city with development levels among the country’s leading localities, a modern industrial, commercial, and logistics hub for the region, and an economy deeply integrated into global supply chains.

Prospects for cooperation

Provincial leaders proposed a productive investment collaboration framework between the two sides in the near term. Mr. Tran Duy Dong said the meeting is expected to lay the groundwork for effective and sustainable cooperation, adding that if both sides build a comprehensive, practical, and mutually beneficial framework with a long-term vision, the cooperation could become a model and a shared success story contributing to Phu Tho’s and Geely’s development and to the broader Vietnam–China strategic partnership.

Geely representatives also expressed appreciation for the province’s development potential and investment-attraction orientations in the new phase.

Source: Phu Tho Provincial Portal.