Shanghai (ZXZC)- On Feb. 21, Chinese automobile manufacturer Hainan Haima Automobile Co., Ltd. (“Haima Automobile”) and Carvivu, Haima's new distributor in Vietnam, signed an MoU (memorandum of understanding) for the cooperation intention on vehicle sale and assembly of knock down kits (KDs) for new energy vehicles (NEVs).

Under the MoU, the two companies intend to hit a cumulative sales target of over 10,000 vehicles over the next three years in Vietnam.

Photo credit: Haima Automobile

The latest move marks an important step for Haima Automobile to explore the ASEAN market by leveraging the location and policy advantages of Hainan Free Trade Port.

In last Dec., Haima Automobile and Carvivu signed a distribution agreement. On Feb. 19, 2023, the two parties had in-depth discussions on the new marketing model for Haima Automobile’s products in the Vietnamese market in 2023, planning to start cooperation by importing complete vehicles, and gradually transition to CKD assembly in the future.

Such right-hand drive countries in ASEAN as Vietnam and the Philippines have been valued as the important markets where Haima’s automobiles are exported to. In Vietnam, the automaker started to build its presence since 2009.

In addition, Haima Automobile has so far sold nearly 10,000 vehicles in the Philippines since its foray into the local market in 2010. In April 2022, the Haima 7X MPV hit the Philippine market.

What’s more, the Haima 7Xs have been exported to Myanmar as well. The automaker has already reached a cooperative intent for the Haima 7X-E’s SKD (semi-knocked-down kits) assembly in the country.