Savico (SVC) has just passed a resolution to invest in Tasco RT. The company will contribute an additional VND 720 billion, comprising VND 220 billion of its own capital and VND 500 billion in loans.
This investment will be used to expand the business operations of the Geely and Lynk&Co showroom chain nationwide, with potential for multiple investment phases, starting with the northern region.
Following SVC’s capital contribution, Tasco RT’s chartered capital will increase from VND 300 billion to VND 1,020 billion. Savico, as the parent company, will hold a 70.59% ownership stake.
A Lynk&Co showroom in Ho Chi Minh City
Tasco RT was established on November 1, 2024, with an initial chartered capital of VND 100 billion, wholly owned by Tasco Auto (formerly SVC Holdings), a subsidiary of Tasco (HUT) listed on HNX.
After two adjustments, Tasco RT’s current chartered capital stands at VND 300 billion. As of the end of Q2/2025, Tasco RT was an indirect subsidiary of HUT with a 96.45% ownership stake.
As of Q2/2025, HUT held 96.45% of Tasco Auto’s capital and 52.17% of Savico. In June 2025, Mr. Ngo Duc Vu, Chairman of Savico’s Board of Directors, was appointed Vice Chairman of Tasco’s Board.
Lynk & Co, a subsidiary of China’s Geely, entered the Vietnamese market in 2024 with six showrooms. In September 2024, Tasco and Geely signed a contract to jointly assemble and distribute vehicles in Vietnam, establishing an assembly plant in Thai Binh with a total investment of approximately USD 168 million and an initial capacity of 75,000 units/year.
In other news, on July 16, Savico’s Board of Directors approved the dissolution of Otos, owner of the online car business platform Otos.vn, which was established in 2014.
Regarding financial performance, Savico reported Q2/2025 revenue of VND 6,642 billion, up 23% year-on-year. Improved gross profit margin and strong financial investment gains led to a 35% increase in after-tax profit to VND 116 billion.
For the first half of 2025, Savico recorded revenue of VND 12,276 billion and after-tax profit of VND 148 billion, up 30% and 55.8%, respectively, compared to the same period last year. These results represent 41.3% and 73.6% of the company’s full-year targets.
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