Tan Chong Motor signs MoU for potential sale and assembly of GAC vehicles in Malaysia and Vietnam
24 December 2020 4:53 pm / 6 comments
Tan Chong Motor Holdings (TCMH) has announced that its wholly-owned subsidiary, TC Overseas Assets Holdings Labuan (TCOAHL), has entered into a memorandum of understanding (MoU) with GAC Motor International.
According to a filing on Bursa, the deal serves as a study on the potential and feasibility of selling and assembling GAC models in Malaysia and Vietnam. GAC International is a wholly-owned subsidiary of Guangzhou Automobile Group Motor, which is turn is part of Guangzhou Automobile Group, otherwise known as GAC Group. The MoU remains valid until July 1, 2021, unless revised by mutual agreement in writing.