Cambodian car brand GTV Motor is ready to assemble cars and will sell them at affordable prices. Reportedly the car will be sold starting at IDR 317 million.
GTV Motor will start assembly operations for its line of cars this year in Cambodia. GTV Motor is an automotive brand from Cambodia that will assemble cars domestically and sell them. As reported by the Khmer Times, the company announced investment in a car assembly plant on National Road 2, Kandal Steung district, Kandal Province.
The factory has a capacity of up to 35,000 units annually. Based on company information, this manufacturer is ready to start first production in early 2024. For first production, GTV Motor is targeting the Cambodian domestic market rather than exporting. This was done following high demand in the Cambodian domestic market for new cars.
The plan is that the company will reduce car prices without taking the quality of the car lightly. GTV Motor was actually built for an assembly and export factory for Volkswagen in the Southeast Asia region.
However, in Cambodia, they use their own brand, namely GTV Motor. As a start, the company will focus on producing five car models at affordable prices which it believes can meet the desires of consumers in the Cambodian domestic market.
“Focusing on developing the Cambodian brand,” explained Chief Financial Officer and Deputy General Manager of GTV Motor Co Ltd Soy Benlyly.
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Soy also said that this new factory would make a contribution to Cambodia’s heavy equipment industry, which is in line with the Royal Government’s road map for the development of Cambodia’s automotive and electronics sectors.
“This independent Cambodian brand will play an important role in the industry while promoting the development of Cambodia’s manufacturing industry and industrial chain to a higher level,” he said again.
Demand for new cars in Cambodia has increased significantly in the last decade. This can be seen from vehicle registration data in the previous period.
There are several types of cars that will be launched, ranging from MPVs to SUVs. Regarding price, it is reported that this car will be offered for the cheapest, around USD 19,999 or the equivalent of IDR 316 million to the most expensive at USD 37,950 which is equivalent to IDR 601 million.