Services
Tasco and Mitsui & Co., Ltd. (Mitsui) are pleased to announce that they have finalized an agreement for Mitsui to become a strategic shareholder of Tasco Auto, a subsidiary of Tasco. Mitsui will accompany Tasco Auto in implementing various plans and development strategies in the coming periods. The investment will be disbursed in tranches, with the first completed on July 31, 2024.
 Tasco and Mitsui representatives at the event
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The collaboration between Tasco and Mitsui at Tasco Auto is considered a significant step forward in helping Tasco realize its strategic objectives. Through this partnership, Tasco Auto will have the opportunity to learn from Mitsui’s international operational and management experience, optimize efficiency, and leverage its partner’s position and existing network. This will help to materialize the industry’s growth potential and continue to pursue long-term development goals. Meanwhile, Mitsui will bring technological solutions and consulting services to the table, assisting Tasco in improving operational efficiency and governance structure, leading to a more streamlined and effective organization.
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With Tasco’s vision to become the leading choice in Vietnam for automotive services and smart transportation infrastructure, Tasco Auto is seen as a strategic piece of the puzzle. It combines with other units within the system to provide a comprehensive range of services for vehicles and their owners throughout their lifecycle. Along with expanding its network of 90 showrooms and a portfolio of 14 automotive brands, including Volvo, Lynk & Co, Toyota, Ford, and Mitsubishi, Tasco has captured a significant market share in Vietnam (13.3% in 2023). The company has also recently affirmed its strong determination to move upstream in the industry with a car assembly (CKD) project developed in 2024. The goal is to launch products in 2025 in collaboration with a global partner ranked among the top 10 largest automotive companies in the world.
Mitsui is a leading Japanese trading and investment company with a presence in over 60 countries and regions and a diverse range of business areas. The automotive and transportation sector is one of Mitsui’s key investment focuses, with investments in over 100 companies across 26 countries. In this field, Mitsui has extensive experience in deeply engaging with the supply chain and developing next-generation mobility solutions.
In this context, the strategic partnership between Tasco and Mitsui is driven by a shared vision to capitalize on the strong long-term growth opportunities in the automotive industry. It brings together Tasco’s leading advantages in automotive services in Vietnam and Mitsui’s international experience, global network, and strong capabilities. This combination will maximize the strengths of both parties to develop and expand their businesses and enhance operational efficiency.
In the future, this partnership will open up significant opportunities to improve the business model, increase profit margins, and enhance shareholder value for both companies.
About Mitsui & Co.: Mitsui & Co. is a leading Japanese trading and investment company with a presence in over 60 countries and regions and a diverse range of business fields. Mitsui’s strategic focus is on sustainability and innovation. The company seeks, develops, and expands its businesses through global partnerships with trusted partners, including leading global companies, combining geographic and industry strengths to create long-term sustainable value and drive growth and development for its stakeholders.
Mitsui has outlined three main strategic pillars in its Mid-term Management Plan: supporting industries’ development and evolution by providing stable resources and materials, and infrastructure; promoting the global transition to renewable and low-carbon energy; and enhancing people’s quality of life by providing quality healthcare services and access to good nutrition.
Learn more about Mitsui at: https://www.mitsui.com/jp/en/index.html
About Tasco Auto: Tasco Auto is a subsidiary of Tasco, a leading distributor of automotive and smart transportation infrastructure in Vietnam, with over 50 years of experience. Tasco Auto is a leading automotive distributor in Vietnam, holding approximately 13.3% of the country’s automotive market share and partnering with 14 automotive brands through a network of 90 showrooms nationwide. This includes prominent brands such as Toyota (nearly 20% market share), Ford (nearly 30% market share), Mitsubishi, and the luxury brand Volvo, which has become one of the top 3 most preferred luxury brands in the domestic market in a short period. In terms of transportation infrastructure, the Tasco system, with its subsidiary VETC, pioneered the operation of electronic toll collection (ETC) with a 70% market share in Vietnam. It connects 120 toll stations and 669 toll lanes on vital transportation routes, serving 3.5 million vehicle owners and handling an average of 1.2 to 1.5 million vehicles per day. With the goal of completing a full-life service chain for vehicles, Tasco has invested in and owns 100% of Tasco Insurance, focusing on developing motor vehicle insurance services. After just one year in the market, the company quickly rose to the top 10 largest companies in motor vehicle insurance in terms of monthly sales. Tasco has also invested in unique and luxurious resorts in Vietnam, such as Six Senses Ninh Van Bay and Ana Mandara Dalat.
Learn more about Tasco at: https://www.tasco.com.vn/
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