GTV MOTOR to assemble car plant in Cambodia with a capacity of more than 30,000 units per year in 2024
Phnom Penh: GTV MOTOR, a manufacturer of used cars of local brands, plans to officially start assembling cars in Cambodia in 2024 to meet the demand for new cars in the country and drive lower car prices, while new cars are currently expensive. Similar to a used car. The company is currently speeding up the construction of its plant, which will be completed soon. The car assembly plant is located along National Road 2, Srok Thom Village, Cheung Keb Commune, Kandal Steung District, Kandal Province, covering an area of 10 hectares with a production capacity of up to 35,000 units per year, which assumes 5 types of vehicles models with reasonable prices for Cambodians.
The presence of this factory will contribute to the support of Cambodia's heavy industry, which is driving the use of new cars in Cambodia due to the increase in living standards of the people, which gives them access to cars and awareness of consumption. At the same time, increasing investment in car assembly and assembly plants in Cambodia is a reason to drive the growth of new car use in Cambodia from year to year.
It is noteworthy that some of the company's models use the Khmer name, including GTV Soben (Dream), which means "We will achieve your dream because we are Soben".
GTV MOTOR has been approved by the Council for the Development of Cambodia to build a car assembly plant in Cambodia in 2022 with a registered capital of approximately US $ 15.6 million and create 738 jobs.
In recent years, Cambodia is attracting more and more world-renowned car manufacturers to invest in building factories in line with the "Roadmap for the Development of Automotive and Electronics Sector" issued by the Royal Government. Come to attract investment in this sector in Cambodia. In fact, in addition to GTV MOTOR, Cambodia currently has car assembly plants of many well-known brands such as Hyundai, Daehan, Kia, Ssangyong, Soueast, Dongfeng, Ford, ISUZU and Toyota.