This agreement marks a significant step forward in the collaboration between two major automotive companies from Vietnam and China.
Vietnam's electric vehicle market, holding just 15 per cent of the automotive market share, shows promise but faces significant challenges in scaling up due to infrastructure and regulatory obstacles.
Their partnership will allow IAR and SH Consulting to provide software development tools and services to the growing automotive industry in Vietnam.
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According to European Chamber of Commerce in Vietnam (EuroCham), Vietnam should conduct appropriate solutions to cut costs and administrative workload for automotive enterprises, aligning with the target of administrative reform in Vietnam as well as the objectives and principles of the EU - Vietnam Free Trade Agreement (EVFTA).
Vietnam is increasing its exports of automotive parts, accessories and other means of vehicles to many countries, notably some countries with developed automobile industry such as the United States, Japan and Thailand.
According to Vietnam Business Forum (VBF), the priority is to increase the size of the market to ensure that the car industry will be maintained in the future.
Motorcycle maker Harley-Davidson Inc. said on Thursday it will build a plant in Thailand, a major Asian automotive hub, to serve the growing Southeast Asian market, a move criticized by a U.S. labor union.
