Cummins Inc. (NYSE: CMI), a global leader in power solutions, has officially entered into a strategic cooperation agreement with Vietnam's largest state-owned commercial vehicle manufacturer, Vietnam Automotive Industry Corporation (VAMC). The partnership involves the establishment of a 50:50 joint venture focused on the production of Cummins diesel engines for vehicles in Vietnam. This move marks a significant step forward in strengthening the company’s presence in Southeast Asia and supporting local manufacturing capabilities.
As part of the broader economic and trade cooperation framework between Vietnam and the United States, Steve Chapman, Vice President of Cummins Group and head of Emerging Markets, was present at the signing ceremony held in New York, hosted by Vietnamese Prime Minister Nguyen Tan Dung. The event highlighted the growing importance of U.S.-Vietnam bilateral relations and the role of private sector collaboration in driving economic growth.
This joint venture is expected to enhance the efficiency and competitiveness of the local automotive industry while creating new employment opportunities in Vietnam. It also aligns with Cummins' long-term strategy to expand its global footprint and support sustainable development through advanced power technologies.
For more information on Cummins and its global operations, visit their official website or explore related topics such as "Cummins - world-class engine manufacturer."
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