Kuala Lumpur, 5 February 2024 – TC Services Vietnam Co., Ltd (TCSV), an indirect wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (TCMH), had on 2 February 2024 entered into an Agreement of Distribution and Service (Agreement) with GAC Motor International Co., Ltd. (GAC Motor International) for the appointment of TCSV as a distributor to import, distribute and sell the vehicles (fuel vehicle) and spare parts, and provide after-sales services on the vehicles in Vietnam. The Agreement will provide TCMH Group with opportunity to expand its foothold in the automotive industry in Vietnam.

TCSV is an indirect wholly-owned subsidiary of TCMH incorporated in Vietnam authorised to engage in retail distribution of an array of automobiles, provision of automotive maintenance and repair and spare parts services in accordance with the laws of Vietnam.

GAC Motor International is a company incorporated under the laws of Hong Kong, with its business address at Room 801, Citicorp Centre, 18 Whitfield Rd., Causeway Bay, Hong Kong. GAC Motor International is a subsidiary of GAC International Co., Ltd., which is a subsidiary of Guangzhou Automobile Group Co., Ltd. (GAC Group). Guangzhou Automobile Group Co., Ltd. is a subsidiary of Guangzhou Automobile Industry Group Co., Ltd. The manufacturer of fuel vehicles is GAC Motor Co., Ltd., a subsidiary of GAC Group.

GAC Group was founded in 1997 and headquartered in Guangzhou, China. It is a large state-owned holding company listed in both Shanghai and Hong Kong Stock Exchanges with over 93,000 employees at present.

GAC Group is principally engaged in the research, development, manufacture, and sale of vehicles and motorcycles, and parts and components, and provision of commercial and financial services, and mobile travel service in Mainland China. It offers large- to medium-sized passenger vehicles, light and heavy trucks, construction vehicles, and energy vehicles; motorcycles comprising standard motorcycles, sport bikes, scooters, etc.; auto-parts and accessories. Since 2010, GAC Group has successively launched a series of models covering sedan, SUV, MPV, PHEV and NEV. In 2020, GAC Group produced and sold more than 2 million vehicles. GAC Group has set up manufacturing plants in Guangzhou, Xinjiang, Yichang and Hangzhou.

Under the Agreement, GAC Motor International grants TCSV with the following rights as a Distributor in Vietnam:

1. to import, distribute and sell vehicles and spare parts;
2. to provide after-sales services on the vehicles; and
3. to appoint sub-distributors to sell, distribute and perform after-sales services for the vehicles and spare parts.