Taiwan’s SanYang Industry Co. opened an automobile factory in southern Dong Nai province’s Nhon Trach 2 Industrial Zone on September 26.

Covering 33.1 ha, the factory, run by the SanYang Vietnam Motor Company (SMV) with a total investment capital of US$70.23 million, is capable of producing 10,000 units per year in the first phase.

SanYang Industry Co. (SYM) marked the occasion by introducing its latest light lorry product named SYM – T880 which is expected to replace the home-made push-carts and handcarts currently being used across the nation.

SYM is a subsidiary company of the Chinfon Group that has so far invested more than US$1 billion in Vietnam, mainly in the production of cement, motorbikes, automobiles and automobile components as well as in banking services.