Tasco Auto has proposed to buy 70% of Mercedes-Benz Group AG’s shares in Mercedes-Benz Vietnam (MBV). This move comes as MBV’s land lease is up until 2030, with conditions for relocation. Mercedes-Benz AG has prepared to shift from production to importing cars, establishing a new entity specialized in trade. Tasco Auto, holding a 13.7% market share in Vietnam’s auto sector, sees this opportunity as a key piece to complete its automotive ecosystem, reinforced by its connection with Geely, Daimler AG’s largest shareholder. Furthermore, Tasco’s acquisition of MBV could exert significant pressure on Haxaco, the largest authorized distributor currently, which has reported a steep decline in pre-tax profit and increasing inventory last year, creating a challenging business scenario.
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