The largest car company on the stock exchange wants to produce locomotives, train cars, and alarm whistles: The high-speed rail game gets busier with domestic enterprises

The Vietnam Engine and Agricultural Machinery Corporation (VEAM) announced plans to supplement its production activities by manufacturing locomotives, train cars, and electric devices like alarm whistles. Starting from March 2025, VEAM aims to join the railway industry supply chain by producing specialized products such as electric motors, power supply systems for trains, and rail accessories. They are collaborating with universities and railway units to develop these products. In its Q1 2025 financial report, VEAM reported an 11% decrease in post-tax profits, marking the lowest net profit since Q3 2021, primarily due to reduced profits from joint ventures.