Thaco Seeks Partnership with South Korea’s Hyundai Rotem for Urban Railway Development
HCMC, September 9 – Trường Hải Auto Corporation (Thaco), one of Vietnam’s largest private conglomerates, is exploring cooperation with South Korean rail giant Hyundai Rotem to develop Vietnam’s urban and high-speed rail systems.
During a meeting with Deputy Prime Minister Hồ Đức Phớc, Thaco Chairman Trần Bá Dương emphasized the group’s intention to invest in urban railway infrastructure and highlighted potential collaboration with Hyundai Rotem in technology transfer, rolling stock manufacturing, and sustainable operations.
Hyundai Rotem CEO Lee Yong-bae underscored Vietnam’s growth potential in high-speed rail, proposing solutions that include technology transfer, workforce training, localization of production, and comprehensive maintenance services.
Deputy PM Hồ Đức Phớc raised questions on train design speeds, operating costs, component production, and signal systems. Both sides provided detailed responses, reinforcing their commitment to long-term cooperation.
Thaco, which generated over 23.7 trillion VND in state budget contributions last year and employs more than 60,000 people, holds nearly one-third of Vietnam’s auto market. Earlier this year, Thaco submitted a proposal to invest in the North-South high-speed railway project, estimated at $61.35 billion.
Hyundai Rotem, founded in 1977 and part of Hyundai Motor Group, is a leading global manufacturer of high-speed trains, locomotives, signaling systems, and hydrogen-powered rail technology.
Deputy PM Hồ Đức Phớc welcomed the partnership, stressing the importance of synchronized infrastructure development, from rail design to signaling and rolling stock manufacturing. He encouraged Thaco and Hyundai Rotem to work with the Ministry of Construction to present a comprehensive railway development plan.
Vietnam is set to expand its urban and high-speed rail networks in the coming years, creating major opportunities for international cooperation, technology transfer, and sustainable transport development.
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Source: Vietnam Insider