Vietnam's Electric Vehicle Surge: Kim Long Motor and BYD's Bold Battery Move

Vietnamese automaker Kim Long Motor and China's BYD are collaborating to establish a $130 million battery production facility for commercial electric vehicles. The plant in central Vietnam aims to initially produce 3 GWh of batteries annually, expanding to 6 GWh over time, supporting Vietnam's growing EV market.

Kim Long Motor, a prominent Vietnamese automobile manufacturer, announced a strategic partnership with China's BYD to develop a $130 million battery production plant for commercial electric vehicles in central Vietnam. This significant investment highlights the growing emphasis on sustainable transport solutions in the region.

According to the agreement, Kim Long Motor will oversee the construction of the facility, while BYD provides essential technical and technological expertise. Initially set to produce 3 gigawatt-hours of batteries annually on a 4.4-hectare site, the plant is projected to begin operations soon, albeit without a specific timeline.

Future plans include expanding the facility to 10 hectares, ramping up production to 6 GWh per year. This expansion will incorporate battery production for electric passenger cars, catering to Vietnam's burgeoning electric vehicle sector, currently dominated by VinFast, known for its recent entry into commercial vehicles with the electric cargo EC Van.

(With inputs from agencies.)