Steelmaker Nam Kim to explore tin-nickel coated steel production for EV battery shells
Nam Kim Steel JSC (HoSE: NKG), a leading coated‑steel manufacturer in Vietnam, plans to research production of tin‑coated steel for the packaging industry, and tin‑nickel coated steel for electric‑vehicle battery shells, serving both domestic and export markets.
Its board of directors issued a resolution approving the plan on Friday, under which its CEO was tasked with assessing feasibility and submitting a detailed proposal.
The task will be carried out on the basis of evaluating and selecting joint‑venture partners with technical capability and industry experience, according to the resolution.
A steel product of Nam Kim Steel JSC. Photo courtesy of the company.
The company will maximize its existing production capabilities while investing in new, modern equipment aimed at products for the industrial and food packaging sectors, for both domestic and export markets in the initial phase.
The next phase targets collaboration and development with technically and technologically capable partners through the joint venture model to produce nickel‑coated steel for electric‑vehicle battery shells.
In Q3/2025, Nam Kim recorded revenue of over VND3,770 billion ($142.99 million), down 27%, with net profit of VND49.5 billion ($1.88 million), a nearly 24% decline, its consolidated financial statements show. The company attributed the revenue drop to weaker market demand.
On June 23, 2025, Nam Kim was honored in the “Top 50 Best Listed Companies in Vietnam” ranking announced by Forbes. This marks the third time the company has made the list, following previous recognitions in 2018 and 2022, according to its website.
As of July 2025, the company operated a network of modern factories with a total capacity exceeding 1.2 million tons per year. Its products are exported to 65 countries and territories, including demanding markets such as Europe, the United States, Australia, Japan, and South Korea.
In 2024, the firm recorded revenue of VND20.7 trillion ($785.13 million), an increase of 11% from the previous year. Its pre-tax profit tripled to VND558 billion, exceeding the target by 133%, and after-tax figure reached VND453 billion ($17.18 million), up nearly 286% year-on-year.
On the Ho Chi Minh Stock Exchange (HoSE), Nam Kim's NKG shares closed Friday at VND16,200 ($0.61) apiece.
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