Taiwan electronics firm Lite-On to invest extra $25 mln for expansion in Vietnam
Taiwan-based Lite-On Technology Corporation, a world leader in optoelectronics and power management solutions, will invest an additional $25 million in Vietnam as part of its expansion plan in the Southeast Asian country.
The electronics company will inject capital into its Vietnamese subsidiary, Lite-On Vietnam Co., Ltd., in multiple phases, depending on practical conditions, it stated in a filing sent to the Taiwan Stock Exchange on Wednesday.
Lite-On factory in Hai Phong city, northern Vietnam. Photo courtesy of Lite-On Vietnam.
Established in 2013, Lite-On Vietnam specializes in the production of electronic circuit boards, as well as the assembly and packaging of printers, scanners, Wi-Fi modules, and other electronic components.
In March, the company broke ground on phase 1 of the Lite-On Quang Ninh plant, located in Song Khoai Industrial Park in the northern province of Quang Ninh.
The $690 million project spans 30 hectares and will manufacture computer electronic components, optical devices, lighting equipment, and communication devices.
Phase 1 is scheduled for completion in November 2025. By 2028, the plant is expected to enter phase 2 operations, boosting its annual capacity to over 95 million units. Full completion is targeted for 2030, with an annual output of 124 million units.
Prior to the Quang Ninh investment, Lite-On had invested $96 million in a project at VSIP Industrial Park in the neighboring city of Hai Phong.
In November 2022, the company inaugurated the second phase of its Hai Phong facility, which features advanced smart manufacturing technologies that integrate automation, digitization, big data, AI, and IoT to produce Netcom and consumer electronics products.
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