Kim Long Motor partners with LG battery arm in $46 mln central Vietnam project
Vietnamese automaker Kim Long Motor Hue JSC has signed a cooperation agreement with South Korea’s LG Energy Solution regarding a VND1.2 trillion ($45.5 million) battery production plant in the central province of Thua Thien-Hue.
Under the deal, LG Energy Solution will supply cylindrical battery cells, while Kim Long Motor will manufacture and assemble complete battery packs.
The plant, to be located inside the Kim Long Motor Hue Industrial Park, will span nine hectares in Chan May-Lang Co economic zone. Construction is scheduled to begin in early 2026.
Kim Long Motor plant in Thua Thien-Hue province, central Vietnam. Photo courtesy of the firm.
The factory will be equipped with international-standard production lines covering stamping, welding, assembly, and packaging, with up to 90% automation, making it one of Vietnam’s most advanced battery facilities.
In its first phase, the plant will have an annual capacity of 1 million kWh, with plans to expand in line with demand for Kim Long’s future electric vehicle models.
Kim Long’s CEO Ho Cong Hai said the partnership would help the automaker secure key components, lower costs, improve quality control, and boost the localization rate to over 80% by Q2/2026.
Founded in 2018, Kim Long Motor has scaled up rapidly, raising its charter capital from VND500 billion ($19 million) to nearly VND3.98 trillion ($151 million) as of end-2024.
The company recently received approval to increase its investment in the Kim Long Motor Hue Automotive Complex at the Chan May-Lang Co economic zone to VND21.18 trillion ($804 million), from the original $260 million.
Kim Long has also partnered with Futa Group and Dongfeng Dana, both in China, to produce and distribute 80,000 automotive axles annually in Vietnam. It is collaborating with China-based Changan Automobile to build a 30-ha passenger car plant with a capacity of 50,000 vehicles per year, slated to break ground this year.
Regarding export, the company has signed contracts to deliver 200 buses annually to South Korea and 3,000 buses per year to Thailand.
- Related News
- Read More
Vietnam auto association worries 96% of gasoline cars could be removed from market by 2030
The Vietnam Automobile Manufacturers Association (VAMA) has raised concerns that up to 96% of their gasoline-powered cars could be taken out of the market by 2030 due to a proposed national fuel consumption standard.
Economy - Fri, August 29, 2025 | 6:06 pm GMT+7
Vietnam’s real estate sector ranks third among industries with high dispute rates
In 2024 alone, the real estate sector accounted for 14% of the total number of disputes in Vietnam, ranking third among industries with high dispute rates, according to the Vietnam International Arbitration Centre (VIAC).
Real Estate - Fri, August 29, 2025 | 4:01 pm GMT+7
Vietnam’s fruit and vegetable export to US surges 67% in Jan-July
Export of Vietnamese fruits and vegetables to the U.S. in the first seven months of the year jumped 67% year-on-year, reaching over $316 million, according to preliminary data from Vietnam Customs.
Economy - Fri, August 29, 2025 | 3:50 pm GMT+7
Thailand's exports grow for 13th consecutive month
Thailand's export turnover recorded a year-on-year increase of 11% in July, marking the 13th consecutive month of growth.
Southeast Asia - Fri, August 29, 2025 | 2:57 pm GMT+7
Dassault Systèmes, Viettel partner to drive Vietnam's high-tech growth
Dassault Systèmes and Viettel have agreed to strengthen strategic cooperation in AI, machine learning, digital design and simulation, aiming to accelerate digital transformation, foster innovation, and enhance Vietnam’s position in high-tech industries.
Companies - Fri, August 29, 2025 | 2:44 pm GMT+7
Northern Vietnam province Bac Ninh pledges favorable conditions for Singaporean semiconductor investors
Vice Chairman of the Bac Ninh provincial People’s Committee Mai Son has affirmed that the province will create the most favourable, transparent, and stable environment for investors.
Companies - Fri, August 29, 2025 | 2:37 pm GMT+7
Petrovietnam proposes eco-energy, industrial center project in Mekong Delta
Petrovietnam has proposed building an eco-energy, industrial center in Can Tho city that features a clean energy complex, petrochemicals-refinery, logistics, a modern terminal, an HR training and research center, and an ecological urban area.
Energy - Fri, August 29, 2025 | 2:14 pm GMT+7
Floating LPG terminal a symbol of PV Gas in northern Vietnam
The floating LPG terminal of PV Gas, a member of state-owned giant Petrovietam, officially came into operation in July 2021 at the Diem Dien anchorage area, Hung Yen province (formerly Thai Binh), marking a strategic milestone in the company's reinforcing its number one position in northern Vietnam's LPG supply market.
Companies - Fri, August 29, 2025 | 11:10 am GMT+7
Industrial giant Thaco breaks ground on $303 mln auto-mechanical industrial park in central Vietnam
Vietnam’s industrial conglomerate Truong Hai Group (Thaco) on Thursday broke ground on its 115-hectare expanded Chu Lai-Truong Hai Auto-Mechanical Industrial Park project in the central city of Danang.
Industrial real estate - Fri, August 29, 2025 | 9:23 am GMT+7
Vietnamese broker VIX Securities establishes digital asset exchange company
A digital asset exchange company with a charter capital of VND1 trillion ($37.94 million) was officially established on Tuesday with VIX Securities JSC contributing 15%.
Finance - Fri, August 29, 2025 | 8:00 am GMT+7
Dutch industrial park builder CTP plans to invest over $1 bln in Vietnam
CTP, a leading industrial real estate developer in the Netherlands, plans to invest about EUR1 billion ($1.16 billion) in Vietnam in the coming years, with the northern province of Hung Yen identified as a key location.
Industrial real estate - Thu, August 28, 2025 | 11:16 pm GMT+7
MB joins A80 National Achievements Exhibition: From mission of serving millions of people to aspiration of becoming leading financial group
Military Bank (MB) has joined an exhibition named "80 years of the Independence-Freedom-Happiness Journey" that is taking place at the National Exhibition Center in Hanoi.
Banking - Thu, August 28, 2025 | 8:53 pm GMT+7
Industrial giant Thaco eyes $1.9 bln port project in southern Vietnam
Vietnam’s industrial conglomerate Truong Hai Group (Thaco) is looking to invest in the Cai Mep Ha port project in Ho Chi Minh City, aiming to tap into the country’s fast-growing logistics sector.
Infrastructure - Thu, August 28, 2025 | 6:02 pm GMT+7
Consortium okayed to make investment proposal for metro line linking HCMC with Long Thanh airport
The Dong Nai province People's Committee has allowed a consortium between multi-sector firm DonaCoop and VinaCapital to make an investment proposal for a metro line linking Ho Chi Minh City with Long Thanh International Airport under the PPP (public-private partnership) model.
Energy - Thu, August 28, 2025 | 4:59 pm GMT+7
CapitaLand Development starts home handovers at southern Vietnam urban complex
Singaporean-invested CapitaLand Development (CLD) has commenced the handover of homes at The Orchard, the first completed residential community within its 18.9-hectare master development, Sycamore, in Ho Chi Minh City.
Real Estate - Thu, August 28, 2025 | 4:16 pm GMT+7
Food giant Nutifood expands dairy processing plant investment in central Vietnam by nearly 4 times
Nutifood Highland Nutrition Food JSC, a subsidiary of Vietnam’s food giant Nutifood, has increased its investment in the Nutifood Highland Dairy Processing Plant in the central province of Gia Lai by nearly four times, from VND289 billion to VND1.05 trillion ($39.86 million).
Investing - Thu, August 28, 2025 | 4:12 pm GMT+7
