On June 11, 2026, THACO Group and South Korea’s Hyundai Rotem Group signed a detailed agreement in Hanoi for the technology transfer and localized production of locomotives and rolling stock for Vietnam’s urban railway networks.
This marks a major operational step in a broader roadmap encompassing technology transfer, workforce training, and the domestic manufacturing of train components and railcars.
Through this strategic partnership, THACO aims to gradually master advanced railway technologies and increase domestic content, directly contributing to the development of a modern national railway industry in alignment with the Vietnamese government's strategic orientation.
THACO and Hyundai Rotem executives sign a detailed agreement on technology transfer and the localization of locomotives and rolling stock
Amid the government's push to invest heavily in urban, inter-regional, and high-speed railways to form a comprehensive national connectivity network, THACO has proactively researched and invested in expanding its production capacity.
The Vietnamese conglomerate selected Hyundai Rotem, a leading South Korean rolling stock manufacturer, as its strategic partner to localize the production of railway components and complete trains within the country.
The collaboration has advanced rapidly over the past year. The partnership officially began with a Memorandum of Understanding (MOU) signed in August 2025 to develop Vietnam's railway industry. By December 2025, the two corporations signed a Localization Agreement, establishing a long-term framework for technology transfer, human resource training, supply chain development, and domestic manufacturing operations.
Subsequently, on April 23, 2026, THACO and Hyundai Rotem signed a major contract to supply 162 locomotives and railcars for urban railway projects in Ho Chi Minh City.
Under this procurement deal, Hyundai Rotem will deliver six fully assembled railcars manufactured in South Korea, alongside 156 complete knock-down (CKD) component kits. THACO will use these kits to manufacture parts and assemble the remaining trains locally in Vietnam.
Following those initial milestones, the June 11 contract details the specific terms of the technology transfer and localization efforts. Hyundai Rotem will provide THACO with comprehensive product design documents, technical manuals, production processes, and quality management systems.
Furthermore, the South Korean firm will host specialized training programs for THACO engineers and managers in South Korea, while also dispatching technical experts to Vietnam to provide on-site guidance during the manufacturing, assembly, testing, and quality control phases.
To support these ambitious manufacturing goals, THACO has invested heavily in a 320-hectare railway and multi-purpose mechanical industrial complex. This facility is located within a larger 786-hectare specialized industrial park for mechanics and supporting industries in Ho Chi Minh City. The complex operates on an integrated manufacturing model featuring modern, highly automated, and smartly controlled technologies designed specifically for rolling stock production.
The massive facility houses several specialized hubs, including an aluminum alloy body production center equipped with a high-pressure aluminum extrusion line capable of handling up to 10,000 tons. It also features a high-precision machining center designed for processing large-scale products up to 25 meters in length, alongside a welding center equipped with smart welding portals and automated recognition technology.
For finishing, the complex includes a surface treatment center outfitted with automated, dedicated shot-blasting systems, a large-scale electrostatic dipping line capable of submerging components up to 17 meters long, and robotic painting lines.
Finally, the site encompasses dedicated hubs for locomotive and rolling stock assembly, a modern testing center with a state-of-the-art test track system, and a large-scale maintenance and repair facility built to meet rigorous international manufacturing standards.
From the initial MOU in August 2025 to this detailed technology transfer and localization contract, THACO has steadily materialized its goal of spearheading Vietnam's domestic railway industry.
The partnership is expected to significantly enhance national industrial capacity, allowing Vietnam to gradually master rolling stock manufacturing and meet the growing demands of its modernizing railway transportation network in the coming decades.
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