Cambodia launches its first car brand, sort of
GTV Motor – the Asian nation's first car brand – says its new factory is planned to open early in 2024, where it will build five new models. But they're not the company's own designs.
Cambodia has launched its first car brand and is about to commence manufacturing a line-up of so-called "affordable" cars for local customers in the South-East Asian country.
GTV Motor claims its inaugural factory – which was commissioned in mid-2022 – is about to commence full-time production of five new models for local sale: the Krusar dual-cab pick-up, Soben-P minivan, and three SUVs, badged Kain, Caesar and Soben.
However all five models appear to be rebadges of existing cars from Chinese manufacturers.
For example the Kain (above) is based on the Kaiyi Kunlun, manufactured by Chinese car giant Chery – while the Krusar is derived from the VGV VX7, with a different front grille.
The car maker is a government-backed project intended to help achieve the Cambodian royal family’s aim of growing its automotive and electronic industries.
It is claimed to have a manufacturing partnership with Volkswagen, and has established branches of its own GTV Automotive Research Institute both domestically and in Germany, China, Japan and Singapore.
Cambodian media reports claim the 100,000-square metre facility has an annual production capacity of 35,000 cars and, after being approved in June 2022, cost a reported $US15.6 million ($AU23.7 million) to construct.
With its new factory, the car maker is targeting local buyers in Cambodia rather than exports with the increased competition aimed at reducing new car prices.
GTV Motor will join Hyundai and Ford with factories in Cambodia, while other car makers including Toyota have plans to build cars there.
The Cambodian Investment Review reported in 2023 that new vehicle sales in Cambodia are predicted to hit 50,000 in 2024, up from 7000 in 2016.
Local media reports claim Toyota dominated new-car sales in Cambodia ahead of Mitsubishi and Changan (from China), in an emerging market where private vehicle ownership remains relatively low.
SUVs remain the most popular vehicle type, with 'minivans' also selling strongly.
Images via Paul Tan, FreshNewsAsia
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