The Memorandum of Understanding was signed on the afternoon of July 28.

At the cooperation announcement ceremony between KIM LONG MOTOR Hue Joint Stock Company and LG Energy Solution

According to the agreement, LG Energy Solution will supply battery cells, while KIM LONG MOTOR will undertake the production and assembly of complete battery packs. The new generation NCM battery is rated as highly safe, explosion-proof, compact in size, light in weight, 30% more energy-efficient than LFP (Lithium iron phosphate – LiFePO4) batteries, while providing longer usage time and longer operating distance.

The battery pack manufacturing and assembly factory project is located in KIM LONG MOTOR Hue Industrial Park, with a scale of 9 hectares, total investment capital of 1,200 billion VND, expected to come into operation in early 2026. The factory is built according to international standards, applying advanced technology with up to 90% automation, including stamping, welding, assembly and packaging stages.

In the first phase, the expected capacity will reach 1 million kWh/year and continue to expand in the following years. The factory will not only ensure a supply of high-quality batteries for KIM LONG MOTOR electric vehicles but also contribute to bringing Vietnam deeper into the global value chain in the field of batteries and electric vehicles - an industry considered a pillar of green transportation and circular economy in the future.

Mr. Ho Cong Hai, General Director of KIM LONG MOTOR, emphasized: “We consider batteries to be the 'heart' of electric vehicles. Mastering core technology in manufacturing and assembling battery packs is the key to sustainable development. Cooperating with LG Energy Solution will help KIM LONG MOTOR proactively source supplies, optimize costs and control quality, aiming for high-class electric vehicles 'Made in Vietnam'. When the factory is in operation, it will contribute to achieving a localization rate of over 80% by the second quarter of 2026, while affirming Vietnam's position on the global clean energy industry map."

This cooperation activity also has the meaning of implementing the major policies of the Party and State on science and technology development, innovation, green economy, digital transformation and international integration.

When put into operation, KIM LONG MOTOR Battery Manufacturing and Assembly Plant will not only create jobs and promote local economic development, but also become a symbol of strategic cooperation between Vietnam and the world's leading technology corporations.

Le Tho

Source: https://huengaynay.vn/kinh-te/cong-nghiep-ttcn/hop-tac-xay-dung-nha-may-pin-hien-dai-tai-viet-nam-157249.html