THACO exports of semi-trailers to US market gather steam
Vietnamese conglomerate THACO shipped another 50 semi-trailers to the US earlier this month, its second batch to the market after a first comprising 69 units in 2020.
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| THACO exports of semi-trailers to US market gather steam. (Photo courtesy of THACO) |
THACO expects exports this year to the US to be five times last year’s number.
In February last year, it signed a memorandum of understanding for manufacturing and distributing semi-trailers with PITTS Enterprises, one of the 15 largest manufacturers of the product in the US.
Dorsey Intermodal, a subsidiary of PITTS, is THACO's representative in the US, and distributes and warrants its products and provides it with technical advisory and components.
After the first shipment found acceptance among customers, THACO and Dorsey signed larger contracts in 2021. But this year logistics difficulties due to the impact of the Covid-19 pandemic have delayed exports by many months.
THACO now expects to export 475 units in June and the third and fourth quarters.
According to Dorsey, the tie-up with THACO has helped the company increase supply capacity, diversify sources of supply and further meet customer needs.
Besides the US, Asia is a potential market that THACO targets, especially Japan, Thailand and Myanmar, with more than 100 trailers expected to be exported to these market this year, bringing the total export volume of semi-trailers to the US and Asia in 2021 to 630 products.
The export of semi-trailers is considered a great success for THACO, which has also been exporting cars of all kinds and spare parts (exports worth nearly 50 million USD last year).
THACO makes a range of semi-trailers that meet the specialized requirements of each partner, with the main products including 20 feet slider semi-trailers, 40-feet gooseneck semi-trailers, and flatbed semi-trailers.
They have all been certified as eligible to operate in traffic in the US, Japan and ASEAN countries. Besides, with semi-trailers from Viet Nam not taxed, the company has a huge competitive advantage and opportunity to penetrate deeply into the US market as well as the chance to participate in the global supply chain.
THACO Special Vehicles Manufacturing Limited Company, or THACO SV, invests in upgrading technologies and machinery and equipment to expand its production capacity. It also studies the characteristics and needs of each market, quality standards and conditions so that its products can participate in their traffic as a basis for its R&D activities and feasible exports.
In addition to enhancing exports of semi-trailers, THACO is planning to export more than 1,500 vehicles of various kinds (including Kia cars, buses and trucks) to its existing markets in 2021, and enter new markets in Africa, West Asia, South Asia, and Australia.
(Source: VNA)
