China’s Yuchai sells engine technology to Vietnam’s Kim Long Motor for $28 mln
China Yuchai International Limited, a leading powertrain solution provider in China, has granted Vietnam-based Kim Long Motor the technology licensing rights for some engine series for $28 million.
In a Thursday statement, Yuchai said the two sides has reached a comprehensive strategic cooperation agreement for the move.
In addition to the technology licenses, the collaboration also includes component supply and related support, and services for the construction of an engine factory at Kim Long Motor's designated site in Vietnam.
A Kim Long Motor bus. Photo courtesy of Lao Dong (Labor) newspaper.
The engine models per the licensing rights will primarily serve trucks, buses, and other commercial vehicles in Vietnam. Kim Long Motor will have 15-year exclusive sales rights for the licensed engines in the Vietnam market, along with priority sales rights in other ASEAN countries and South Korea.
Yuchai will support the construction of the engine factory in Vietnam by providing technical services for equipment installation and commissioning at Kim Long Motor's expense.
Yuchai will also supply all engine assembly parts and service kits for these engines manufactured by Kim Long Motor in Vietnam.
Kim Long Motor is a leading vehicle maker in Vietnam, known for its 600 hectare Kim Long Motor Hue Automotive Manufacturing and Assembly Industrial Zone in the central city of Hue. Its major products include buses, minibuses, trucks, passenger cars, engines, axles, gearboxes, and chassis cutting.
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