SHANGHAI, Dec. 8, 2025 -- Geleximco Group and Leekr Technology, a leading Chinese provider of intelligent chassis system solutions, formally signed a Memorandum of Understanding (MoU) in Shanghai. By combining their respective strengths, the two companies will deepen industrial cooperation in the core components of intelligent automotive chassis, working together to advance the development of Vietnam's automotive manufacturing industry, especially in the new energy vehicle segment.
The signing ceremony was attended by senior executives from both sides, with Mr. Vũ Văn Tiền, Chairman of Geleximco Group, and Mr. Hui Zhifeng, Chairman of Leekr Technology, signing the agreement. This partnership marks the integration of advanced auto parts manufacturing with Vietnam's local resource advantages, officially launching their collaboration and laying a strong foundation for deeper future cooperation.
Market data indicates that Vietnam's electric vehicle market has seen explosive growth since 2024, with an expected increase of 25-30% in 2025. Sales are projected to potentially exceed 1 million units by 2030. As a capable and diversified local group, Geleximco holds significant advantages in large-scale industrial project investment, local resource integration, and upcoming vehicle manufacturing capabilities. In 2024, Geleximco Group, together with Omoda & Jaecoo Automobile Co., Ltd. and China's Chery Group, invested $319 million to establish a plant in Vietnam's Thai Binh Province. The facility, with an annual capacity of 200,000 vehicles, is scheduled to begin production in 2026.
Leekr Technology is a leading emerging supplier of intelligent chassis components in China, with a fully planned line of by-wire chassis products that includes brake-by-wire, steer-by-wire, and chassis domain controllers. The company has established a mature quality control system and already supplies multiple major Chinese automakers, including Chery, Seres, and FAW, at scale. In 2024, Leekr's integrated hydraulic brake-by-wire system IHB-LK® (One-Box) ranked among the top3 Chinese brands in market share within its segment. Notably, Chery Group is not only a key customer and mass-production partner of Leekr but also an industrial shareholder, providing ongoing support for Leekr's technology development and market expansion.
The collaboration between Geleximco Group and Leekr Technology will strengthen the localization of Geleximco's automotive supply chain while providing Leekr with an efficient gateway into Vietnam's rapidly growing market—creating a mutually beneficial partnership.
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