TC MOTOR - 20 YEARS IN DEVELOPMENT WITH VIETNAMESE AUTOMOTIVE INDUSTRY
After 20 years of development, TC MOTOR - The automotive unit of Thanh Cong Group has become an important part of the automotive industry.
By undergoing such difficulties and challenges, TC MOTOR, which is formerly known as Thanh Cong Mechanical Co., Ltd and was established in 1999, has been improving day by day with remarkable milestones. As a 100% domestic-owned enterprise, TC MOTOR has relied on internal resources to expand and grow strongly, and to become a typical business with important contributions to the Vietnamese automotive industry.
Hyundai Thanh Cong is the official manufacturer and distributor of Hyundai passenger cars in Vietnam
Since established, TC MOTOR has determined its sustainable development path with the foundation of being a high-quality automotive manufacturer. Since then, a complete system of production has been established with assemble, distribution, services, spare parts, logistics… Therefore, the company has chosen such solid steps like building its foundation infrastructure, cooperating in joint ventures to gain experiences and practical production processes that align with Vietnamese automotive industry’s regulations.
20-YEAR DEVELOPMENT PATH OF TC MOTOR
The initial stage
1999: Thanh Cong Mechanical Co., Ltd was founded with the focus on selling industrial vehicles such as trucks and construction equipment. These activities became the firm foundation for establishment of such a leading automotive company in the future.
2004: The first automotive plant was built in Dong Anh with the launching of Thanh Cong truck, one of the key products of TC MOTOR
2005 - 2008: TC MOTOR cooperated with big car manufacturers like Dong Feng from China or Dong Yang from Korea to import vehicles to Vietnam. This activity did open an internationalised direction for TC MOTOR to cooperate, transfer new technologies and products for Vietnamese automotive industry.
2007: TC MOTOR became the official partner of Hyundai Heavy Industries and Construction Equipment in Vietnam. In the same year, the company built its second assemble automotive plant in Ninh Binh, the one with large scale.
Promoting Hyundai to become a strong brand in Vietnam
Hyundai commercial vehicles are evaluated as being potential in Vietnamese market
2009: TC MOTOR became the official partner of Hyundai Group in Vietnamese market, specializing in importing and distributing Hyundai passenger cars.
2011: The manufacturing and assembling car plant in Ninh Binh started operation with the launching of its first passenger car model - Hyundai Avante.
2013: TC MOTOR was one of the 30 largest private enterprises in Vietnam, according to VNR500 Ranking of Vietnam Report.
2018: TC MOTOR ranked No. 1 on Vietnamese Fast 500 rankings.
After 20 years of development with the Vietnamese automobile industry, with the continuous efforts of our staff, the trust and support from our customers across the country, TC MOTOR has gained such proud achievements.
Product restructuring: 98% of Hyundai cars are produced domestically by TC MOTOR with global quality standards. Meanwhile, only 10 years old, 100% of them were imported from foreign countries. This figure indicates TC MOTOR's ability to master the production process, expert the modern transferred technology line.
Representatives of Hyundai Group and Thanh Cong Group in the cooperational ceremony
Arise to be the mainstay of Vietnamese automobile industry: After 1- years, from a young business, TC MOTOR has growth strongly with a 10-time increase in total sales, from 6.335 Hyundai cars sold in 2009 to 55,994 sold in 2018 (statistics of passenger vehicles). The market share tripled from 7% in 2009 to 22% in 2018. In 2019, TC MOTOR is expected to sell more than 70.000 cars, which accounts for 23% of the passenger market share and ranks second position in the whole market.
With an abundant product range, all of the products that manufactured and distributed by TC MOTOR are favoured by customers and are always in the top 3 most popular models in the segment. In particular, Hyundai Grand i10 and Hyundai Accent are 2 of the 3 best-selling car models in the Vietnamese automobile market in the first 6 months of 2019.
After 10 years of developing brand Hyundai in Vietnam, the number of car dealers has increased 13 times, from 7 dealers in 2009 to 81 dealers in 2019. On the one hand, this helps Hyundai automotive products manufactured and distributed by TC MOTOR are more accessible to customers. On the other hand, the service quality is enhanced to meet all customers’ needs. In the future, this number will surely continue to increase, which ensures the presence of TC MOTOR across the country.
On 30th March 2018, Thanh Cong Group sign a MOU with Hyundai Motor Company in establishing a joint venture, enlarging the scale of manufacturing and assembling Hyundai passenger cars in Vietnam.
Great contribution to the socio-economic development: By having a widespread developed infrastructure system, TC MOTOR has solved local employment issues with more than 20,000 employees that are directly and indirectly working in office blocks, factories and agents across the country. After 20 years of development, TC MOTOR has contributed trillions of VND to the national budget annually.
Over 20 years of development, TC MOTOR has organised many career training activities, especially for automotive engineering students with practical weeks, factory and showroom visitings. In addition, TC MOTOR has cooperated with Hyundai Motor Corporation and prestigious international organizations to build training centers and cultural exchanges for many Vietnamese people such as students or Vietnamese repatriated women from broken Vietnamese - Korean multicultural families.
Along with that, TC MOTOR has built a series of new, spacious and modern schools for disadvantaged children in remote areas. The schools built by TC MOTOR are located from the North to the South, from Ha Giang, Son La to Nghe An, Daklak, ... and will continue to be expanded with the investment of ten billion VND. Besides the activities of TC MOTOR are more than 100 programs of car dealers across the country in contribution to make a better life for the country and people of Vietnam.
CONTINUING THE 20-YEAR ROAD
With the current achievements, TC MOTOR is aware of the need to change and develop towards greater goals. After 20 years of development with Vietnamese automobile industry, TC MOTOR has determined its sustainable development path of becoming an automotive manufacturer and distributor, car accessory supplier and playing an important role in global supply chain.
a. Production activities
With the experience gained through 20 years of development, TC MOTOR has converged and qualified to become a professional OEM manufacturer. TC MOTOR will increase investment and call for investment to develop the supporting industries, and increase the localization rate. The company not only stops at Vietnamese market but also aims at take greater values in joining the global automotive supply chain and involving exportation.
Samsung is in cooperation with Thanh Cong Group about technological solutions in projects
b. R&D activities
TC MOTOR understands that, in order to really understand the production technology, as well as truly master and make Vietnamese branded products, R&D activities need to be focused and invested. The company has been building research centers, developing car models that are suitable with the natural conditions, culture and people of Vietnam. At the same time, TC MOTOR will conduct vocational training to have high quality human resources for the development of Vietnamese automobile industry.
Mr. Nguyen Anh Tuan, the President of Thanh Cong Group (second from the left) received the Distribution of the Year award with two representatives of Hyundai
c. Distribution activities
Entering a new development period, TC MOTOR shifted from the motto "Product-centric" to "Customer-centric". All activities of TC MOTOR are aimed at creating the best values and making customers most satisfied. TC MOTOR understands that if it has been for the trust and companionship of customers, there will not be the success of today. And besides the traditional approaches, we will develop new, more advanced methods that are suitable with the revolution of space-free connectivity.
Hyundai Thanh Cong ranked first in customer satisfaction for new car purchases in Vietnam
Over 20 years of development, TC MOTOR has accompanied and contributed greatly to the development of Vietnamese automobile industry, especially in the field of manufacturing. In the next stage of development, with government-oriented policies, strong determination and investment, TC MOTOR will keep contributing more and more. Besides the field of production, the company will also involve in researching and manufacturing, which contributes to a sustainable and constantly-developing Vietnamese automotive industry.
Thanh Cong Group was established in 1999, with a vision to become the leading corporation in the region with a key point in manufacturing and distributing automobiles, providing professional spare parts and components, playing an important role in the global supply chain.
In 2009, Thanh Cong Group became an official partner with Hyundai Group in the field of distributing Hyundai passenger cars in Vietnam. After 10 years of cooperation, expansion and joint ventures, Thanh Cong Group has made Hyundai become one of the leading automotive brands in Vietnam with many remarkable achievements. In 2018, Hyundai car sales reached 55.994, which accounts for 22% of passenger car market in Vietnam. With the distribution channel of 81 dealers, all car models produced and distributed by TC MOTOR dominate their segments. Especially, Thanh Cong Group has shifted its structure from importing the whole cars to nearly 100% assembly production.
2019 marks the 20-year path of Thanh Cong Group and 10-year cooperation with Hyundai Group. TC MOTOR - the automotive unit of Thanh Cong Group is officially introduced to inherit and implement the Group's mission in the automotive industry. TC MOTOR will continue the story of "20 years of development with Vietnamese automobile industry".