PETALING JAYA: Tan Chong Motor Holdings Bhd’s distribution agreement for the Nissan Sunny and X-Trail models in Vietnam will not be renewed.
In its stock filing, the automotive distributor said its indirect wholly-owned TCIE Vietnam Pte Ltd (TCIEV) had received letters from Nissan Motor Co Ltd (NML) on the non-renewal of the distribution agreement for the Nissan completely knocked down (CKD) models.
The distribution agreement dated Sept 20,2012, was due to expire on Sept 19 this year.
“Notwithstanding the above, the technical assistance agreement dated May 30,2012 executed between TCIEV and NML for the rendering of technical assistance to TCIEV by NML for the assembly of the Nissan CKD models will continue to remain in force, ” Tan Chong said.
"TCIEV and NML are in open dialogue on the continuity and the alternative distribution channels for the Nissan CKD models in Vietnam, ” it added.
