Tasco Auto has proposed to acquire 70% of the shares of Mercedes-Benz Vietnam (MBV) from Mercedes-Benz Group AG. This move comes as MBV’s factory in Go Vap is only granted an operating extension until 2030, requiring self-removal without compensation. With import tariffs on European cars dropping to 0% by 2030, Mercedes-Benz is set to shift from assembly to pure imports. Tasco Auto currently holds 13.7% of the automotive distribution market in Vietnam and aims to complete its automotive ecosystem with this deal. Its relationship with Geely, the largest shareholder of Daimler AG, opens up restructuring opportunities in Vietnam’s value chain. Furthermore, this transfer of control at MBV may put competitive pressure on Haxaco, the largest current distributor. Haxaco faces challenges with a decline in profits in 2025, thus Tasco’s acquisition of MBV could significantly impact their business strategy.
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