THACO

What THACO does

THACO (Công ty Cổ phần Tập đoàn Trường Hải / Truong Hai Group Joint Stock Company) is Vietnam's largest privately-controlled industrial conglomerate, founded in 1997 and restructured in 2021 into six wholly-owned sub-holdings spanning automotive, agriculture, mechanical/supporting industries, construction, logistics, and commerce/services. The group employs more than 13,400 people and is led by Chairman Trần Bá Dương.

The automotive core is THACO AUTO, which manufactures and distributes passenger vehicles, trucks, buses, and specialized vehicles under international brands (Kia, Mazda, Peugeot, BMW, MINI) and proprietary THACO Bus and THACO Truck brands, using a 7-factory Manufacturing Assembling Complex at the Chu Lai Industrial Park equipped with automation and engineering-software-enabled R&D transferred from Japan, South Korea, and France. THACO AUTO holds roughly 38% of the Vietnamese automotive market (2022, ~111,440 vehicles) and reaches customers through over 450 owned showrooms and service centers, plus digital sales and e-commerce channels. The complementary sub-holdings include THACO AGRI (95,000+ hectares of fruit, rubber, and 720,000-head livestock operations across Vietnam, Laos, and Cambodia with GLOBALG.A.P. certification), THACO INDUSTRIES (36 plants producing auto parts, semi-trailers, and industrial equipment), THADICO (PPP/BT transport infrastructure and real estate), THILOGI (maritime, road, port, and cold-chain logistics via Chu Lai Port), and THISO (Emart hypermarkets, Thiso Malls, Thiskyhall Sala convention center).

Revenue is generated through hardware sales of vehicles and auto parts, agricultural exports, logistics fees, real-estate and retail operations, and PPP concession projects. Major OEM partners include Kia, Mazda, and Stellantis (Peugeot/Jeep/Ram); in 2026 THACO added Hyundai Rotem as a metro-rolling-stock technology partner and is executing premium/hybrid product launches (Mazda CX-60/CX-90/MX-5, Kia Sportage/Sorento hybrids, Jeep/Ram/Peugeot 3008/5008) plus a Dong Nai provincial PPP road concession. Geographic reach extends across ASEAN plus East Asia, the US (semi-trailers), and over 190 countries for agricultural exports supported by THILOGI.

Name

THACO

Legal name

Công ty Cổ phần Tập đoàn Trường Hải

Website

https://thacogroup.vn

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

THACO is Vietnam's largest multi-industry conglomerate operating six sub-holdings across automotive manufacturing/distribution (Kia, Mazda, Peugeot, BMW, THACO brands; ~38% market share), agriculture (95,000+ hectares across Vietnam/Laos/Cambodia), logistics, construction, supporting industries, and retail commerce.

Ownership category

akta.pro rank

Product category

Automotive Manufacturing and Distribution

NAICS

Motor Vehicle Manufacturing (3361), Heavy Duty Truck Manufacturing (33612), Truck Trailer Manufacturing (336212), Motor Vehicle Parts Manufacturing (3363), Motorcycle, ATV, and All Other Motor Vehicle Dealers (441227)

SIC

Wholesale-Motor Vehicle Supplies & New Parts (5013), Truck Trailers (3715), Misc Industrial & Commercial Machinery & Equipment (3590)

akta.pro primary industry

Passenger Vehicle Manufacturing (ICE) (IMACAAAA)

akta.pro secondary industry

Truck Body & Upfit Manufacturing (Box/Dump/Service/Refuse) (IMACAGAC)

Keywords

• Automotive manufacturing
• Vehicle distribution
• Industrial agriculture
• Logistics services
• Industrial conglomerate

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Automotive Manufacturing and Distribution: THACO manufactures and distributes full range of vehicles from passenger cars, trucks, buses, and specialized vehicles under international brands (Kia, Mazda, Peugeot, BMW, MINI) and THACO brand (THACO Bus, THACO Truck). Revenue comes from vehicle sales through owned retail network and exports of vehicles and auto parts.
2. Agricultural Production and Export: THACO AGRI produces and exports agricultural products including bananas, pineapples, mangoes, durian, and grapefruit, along with livestock products (cattle, pigs, fish). Products supplied to domestic and international markets.
3. Commercial Real Estate and Retail Services: THISO owns, manages, and operates commercial real estate including shopping centers, hypermarkets, convention centers, restaurants, entertainment, and retail operations. Revenue from Emart hypermarket operations, tenant leasing, and retail sales.
4. Logistics Services: THILOGI operates maritime shipping, ports, road transport, and packaging services. Revenue from port operations, freight forwarding, and integrated logistics solutions across domestic and international routes.
5. Investment and Construction: THADICO operates in transport infrastructure, industrial parks, urban areas, and real estate. Revenue from project investment, construction services, and real estate development under PPP (Public-Private Partnership) and BT (Build-Transfer) models.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

THACO manufactures and distributes vehicles (passenger cars, trucks, buses, and specialized vehicles under Kia, Mazda, Peugeot, BMW, MINI, and proprietary THACO Bus/Truck brands) through a nationwide network of more than 450 showrooms and seven automated assembly factories at Chu Lai Industrial Park. Beyond automotive, the group operates THACO AGRI's industrial-scale agriculture across 95,000+ hectares in Vietnam, Laos, and Cambodia; THILOGI's port, maritime, road, and cold-chain logistics; THACO INDUSTRIES' auto parts and semi-trailer manufacturing across 36 plants; THADICO's infrastructure and real-estate investment; and THISO's Emart hypermarkets, Thiso Malls, and Thiskyhall Sala convention center.

Product overview

THACO (Truong Hai Group Corporation) is Vietnam's leading multi-industry conglomerate operating six business units: THACO AUTO (automotive manufacturing and distribution with brands Kia, Mazda, Peugeot, BMW, MINI, and own brands THACO Bus/Truck), THACO AGRI (agriculture with 95,000+ hectares across Vietnam, Laos, Cambodia producing fruits, livestock, and processed foods), THACO INDUSTRIES (mechanical and supporting industries producing auto parts and industrial equipment), THADICO (investment and construction in railways, infrastructure, industrial parks, real estate), THILOGI (logistics with road/sea transport, ports, cold chain), and THISO (commerce and services operating shopping centers, Emart hypermarkets, conference centers like Thiskyhall Sala). The portfolio includes vehicle distribution across 450+ showrooms, agricultural production, logistics infrastructure, and retail properties. In 2026, THACO AUTO launched new premium vehicles including Mazda SUV hybrids (CX-60, CX-90), Kia Sportage/Sorento hybrids, and Jeep/Ram brands through the Stellantis Brand House model.

Differentiator

Problem solved

Functional benefit

Brands

• THACO AGRI: Agricultural subsidiary focusing on large-scale organic agricultural production with integrated industrial management, including fruit trees (bananas, pineapples, mangoes), livestock (cattle, pigs, fish), and processed food products
• THACO AUTO
• THACO INDUSTRIES
• THADICO
• THILOGI
• THISO

Products and services

• Kia Vehicles

Named customers5 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Hyundai RotemcoreTechnology or Integration · 11 June 2026THACO and Hyundai Rotem signed a detailed contract for technology transfer and localization of metro rolling stock production for urban rail systems in Vietnam. This partnership aims to develop domestic railway manufacturing capabilities and transfer technology for producing metro trains domestically.
• StellantiscoreStrategic or Co-development Partner · 20 April 2026Stellantis and THACO AUTO engage in strategic partnership for multi-brand distribution in Vietnam. Stellantis owns 14 automotive brands including Peugeot, Citroën, Opel, Jeep, Ram, Alfa Romeo, and Maserati. The partnership implements the Stellantis Brand House (SBH) model in Vietnam - an integrated multi-brand retail concept. THACO AUTO has been Stellantis's strategic partner since 2013, successfully developing Peugeot. The collaboration extends to Jeep and Ram brand introduction and the Peugeot 3008/5008 SUV launches.
• Emart (South Korea)coreStrategic or Co-development Partner · 1 January 2021THISO acquired 100% of Emart Vietnam and obtained exclusive franchise rights to operate Emart hypermarkets in Vietnam. THISO Retail manages Emart operations and continues to expand the hypermarket chain across Vietnam. Emart's 'Giá rẻ hơn – Chất lượng tốt hơn' (Cheaper Price – Better Quality) value proposition is maintained.
• Mazda CorporationcoreTechnology or Integration · 1 January 2013Mazda Corporation technology transfer partnership with THACO for manufacturing and assembly of Mazda vehicles in Vietnam. THACO AUTO participated in Mazda Mirai 2026 conference and met with Mazda leadership in Hiroshima, Japan. The partnership has expanded to introduce new Mazda models with Japanese Premium positioning in Vietnam.
• Kia CorporationcoreTechnology or IntegrationKia Corporation technology transfer and distribution partnership with THACO for Kia vehicles manufactured and sold in Vietnam. THACO operates Kia manufacturing plant and distributes Kia vehicles through its nationwide network.
• Idaho State Government (USA)minorStrategic or Co-development PartnerDelegation from Idaho State government and US Department of Agriculture visited THACO AGRI's beef cattle farm project in Ia Puch commune, Gia Lai province, exploring cooperation in livestock development between Idaho and THACO.
• Trường Đại học Phú XuânminorStrategic or Co-development PartnerTHACO AGRI participated in graduation ceremony at Phu Xuan University and awarded 5 scholarships to top graduates who registered to work at THACO AGRI agricultural complexes.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Stellantis N.V. Global multi-brand automaker whose brands (Peugeot, Jeep, Ram) are distributed and assembled by THACO; the Stellantis Brand House model implemented first in Vietnam with THACO is the most direct strategic comparability.
• Hyundai Motor Group: Global automaker with Vietnamese operations that compete with THACO-distributed brands; also a partner via Hyundai Rotem for metro rail localization, illustrating how THACO straddles partner and competitor dynamics with global OEMs.
• Mazda Motor Corporation: Long-standing THACO partner since 2013, with Mazda vehicles assembled and distributed through THACO's network; comparable as a global OEM relying on a local manufacturing/distribution partner in an emerging market.
• Kia Corporation: Core THACO manufacturing and distribution partner (Kia plant in Chu Lai); comparable as an OEM whose emerging-market volume is materially driven by a local assembly and dealer partner.
• Toyota Motor Corporation: Vietnam auto market incumbent historically competing with THACO-distributed brands (Kia, Mazda) for share; comparable global OEM with assembly and distribution models in emerging markets that parallel THACO AUTO's structure.

Direct peers

• Tata Motors: Indian conglomerate combining passenger vehicles, commercial trucks, and adjacent industrial businesses; the closest structural analog to THACO as a multi-industry group anchored by an automotive OEM/distribution business in an emerging market.
• VinFast (Vingroup): Vietnam's other major domestic automaker and THACO's most direct local competitor; while THACO focuses on multi-brand ICE distribution and assembly, VinFast is the local EV challenger building a competing manufacturing base in Vietnam.
• Ford Vietnam: Direct competitor in Vietnam's passenger vehicle and truck market; comparable as a global OEM distributed via local assembly/sales that competes head-to-head with THACO-distributed brands.
• Honda Vietnam: Long-standing Vietnam auto and motorcycle incumbent; comparable as a competing OEM with deep dealer network and motorcycles (THACO distributes BMW Motorrad and Peugeot Django), competing in overlapping segments.

Regional players

• Proton (DRB-HICOM / Geely): Malaysian national automaker with regional ASEAN ambitions; comparable as a Southeast Asian auto manufacturer/distributor that pairs local production with multi-brand partnerships to defend share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCI4u7-NwfRhxhsSl3ps6NfQ
• Facebookfacebook.com/thacogroup.truonghai
• LinkedInlinkedin.com/company/thaco-group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about THACO