BYD breaks ground on first US$130 million EV battery plant in Vietnam
VOV.VN - Vietnamese auto manufacturer Kim Long Motor and China's BYD (Build Your Dreams) on January 27 signed a strategic cooperation agreement and broke ground on a new electric vehicle (EV) battery manufacturing plant in Vietnam, marking BYD’s first battery production facility in the country.
The project is located at the Kim Long Motor automobile manufacturing and assembly industrial park in Chan May–Lang Co, Hue City, and will be developed in two phases with total investment of about US$130 million.
Under the agreement, Kim Long Motor will invest in building the new-energy battery plant with technical support and technology transfer from China’s BYD Group, one of the world’s leading companies in batteries and new-energy vehicles.
The project aims to help businesses gradually master battery manufacturing technology which is a key component determining the performance and safety of electric vehicles, thereby enhancing the competitiveness of Vietnam's automotive industry.
The plant will produce batteries for commercial vehicles, including buses, trucks and minibuses to meet domestic market demand and target export markets. The products will be integrated into commercial electric vehicles manufactured by Kim Long Motor under the “Made in Vietnam” brand.
Kim Long Motor is researching and developing a 34-seat electric sleeper bus model, utilizing BYD battery technology. This is considered the first sleeper bus model using new energy in Vietnam and Southeast Asia.
The project has a total investment of approximately US$130 million in two phases. In the first phase, the plant will be on a 4.4 hectare plot of land and will have a capacity of 3 GWh per year.
In its second phase, the facility will expand to 10 hectares and double its production capacity to 6 GWh per year. The expansion will also introduce battery production for electric passenger cars.
Dao Viet Anh, chief executive officer of Kim Long Motor, said the partnership with BYD and the battery plant investment reflect the company’s long-term strategy to develop electric vehicles, gain control of core technologies and build a closed-loop value chain.
When operational, the BYD battery plant is expected to help Kim Long Motor increase its localization rate to over 80% by Q2 2026, while contributing to the formation of a regional-scale battery and electric vehicle manufacturing centre in Vietnam.
Chinese investor inaugurates Li-ion and Ni-MH battery factory in Hai Phong
VOV.VN - Vietnam Exquisite Power Technology Co. Ltd., a subsidiary of China’s Highpower Technology group, inaugurated its Li-ion and Ni-MH battery factory at the Nam Dinh Vu Industrial Park in the northern port city of Hai Phong on January 17.
