Geleximco Group Partners with Leekr Technology for Automotive Innovation

Geleximco and Leekr Technology: A Strategic Partnership in Automotive Development

Geleximco Group, a prominent player in Vietnam’s industrial sector, has established a crucial partnership with Leekr Technology, a leading provider of intelligent chassis solutions based in China. The formal signing of the Memorandum of Understanding (MoU) took place in Shanghai, reinforcing their commitment to enhancing collaboration in the automotive industry, particularly within the new energy vehicle category.

The Signing Ceremony

The event was attended by key figures, including Mr. Vũ Văn Tiền, Chairman of Geleximco Group, and Mr. Hui Zhifeng, Chairman of Leekr Technology. This strategic partnership is not only a significant milestone in both companies’ operations but also a critical step forward for Vietnam's automotive manufacturing ambitions. By merging their respective strengths, the companies aim to streamline and bolster the core components of intelligent automotive chassis, marking a new era in industrial cooperation.

Growth of Vietnam's Electric Vehicle Market

Vietnam's electric vehicle (EV) market is on the verge of explosive growth, with projections suggesting a remarkable 25-30% increase in 2025. Sales are expected to surpass 1 million units by 2030, highlighting the immense potential and demand for innovative automotive solutions. Geleximco's robust local presence and investment capabilities position it uniquely to capitalize on this opportunity. In collaboration with Omoda Jaecoo Automobile Co., Ltd. and China's Chery Group, Geleximco is spearheading a $319 million project to establish a manufacturing facility in Thailand, set to commence operations in 2026 with an annual capacity of 200,000 vehicles.

Leekr Technology and Its Offerings

Leekr Technology stands out as a pioneer in the intelligent chassis components market in China, offering a diverse range of products that include brake-by-wire, steer-by-wire, and domain controllers for automotive applications. The company's fully developed range of by-wire chassis solutions is renowned for its commitment to quality, evidenced by its comprehensive quality control system. Leekr currently supplies various major Chinese automotive brands, solidifying its position as a market leader. In 2024, the company's integrated hydraulic brake-by-wire system, known as IHB-LK® (One-Box), secured a spot among the top three brands in its respective market segment. Notably, Chery Group not only relies on Leekr for its supply but also plays an active role as an industrial shareholder, fostering technological advancements and market growth.

A Mutually Beneficial Collaboration

The partnership between Geleximco and Leekr Technology is poised to bring about significant advantages for both entities. Geleximco aims to strengthen its automotive supply chain's localization, while Leekr gains an efficient pathway to penetrate the rapidly expanding Vietnamese market. As both companies align their goals, this collaboration holds the promise of driving innovation and growth in the automotive landscape, providing tailored solutions that meet the evolving demands of the industry.

Looking Ahead

The future looks bright for Geleximco Group and Leekr Technology as they embark on this new journey together. By leveraging their respective strengths and resources, they are set to make a meaningful impact not only on Vietnam's automotive market but also on the international stage. This partnership is expected to pave the way for future developments in intelligent automotive technologies, enhancing the overall growth and sustainability of the automotive sector.

As they move forward, stakeholders in the industry will be keenly watching how this dynamic collaboration unfolds, potentially setting new standards for automotive manufacturing in the region and beyond.