According to the Ho Chi Minh City Stock Exchange’s announcement on August 11, Savico (HOSE: SVC) approved a plan to invest an estimated 720 billion VND (about 28.5 million USD) into Tasco RT. This includes 220 billion VND (8.7 million USD) in equity and 500 billion VND (19.8 million USD) in loans.

Tasco RT currently has charter capital of 300 billion VND (11.9 million USD). Once the investment is complete, Savico will hold a 70.59% stake.

After the capital contribution, Savico CEO Nguyen Hai Ha will represent the company’s interests at Tasco RT, overseeing the development of a nationwide Geely–Lynk & Co showroom chain. The first phase will focus on northern Vietnam, with future phases to follow.

Founded in November 2024, Tasco RT specializes in retailing passenger cars (up to nine seats). Previously a subsidiary of Tasco Auto, it is now majority-owned by Savico. As of Q2 2025, Tasco JSC (HNX: HUT) holds 96.45% of Tasco Auto and 52.17% of Savico. Notably, in June 2025, Savico Chairman Ngo Duc Vu was appointed Vice Chairman of Tasco.

Tasco Auto sold over 40,555 cars in 2024, capturing 13.7% of Vietnam’s auto market. Lynk & Co, a Geely subsidiary, debuted in Vietnam in 2024 with six dedicated showrooms while leveraging Tasco Auto’s 106 locations to expand. In 2025, Tasco aims to grow its network to 180 showrooms.

In September 2024, Tasco and Geely signed a joint venture agreement to assemble and distribute cars in Vietnam, including building an assembly plant in Thai Binh with a total investment of about 168 million USD. The first phase targets a capacity of 75,000 cars per year. Construction was expected to start in the first half of 2025 with the first vehicles delivered in early 2026, though there is no update yet on the groundbreaking.

Tran Chung