The MOU signing took place in the afternoon of July 28th.
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| At the cooperation announcement ceremony between Kim Long Motor Hue JSC and LG Energy Solution |
According to the agreement, LG Energy Solution will supply battery cells, while Kim Long Motor will handle the production and assembly of complete battery packs. The next generation NCM batteries are rated for high safety, fire and explosion resistance, compact size, light weight, and 30% more energy efficiency compared to LFP (Lithium Iron Phosphate - LiFePO₄) batteries, while also offering longer usage life and extended driving range.
The battery production and assembly plant will be located at the Kim Long Motor Hue Industrial Park, covering an area of 9 hectares, with a total investment of 1.200 billion VND. It is expected to go into operation by early 2026. The plant will be built to international standards, applying advanced technology with up to 90% automation, including stamping, welding, assembly, and packaging stages.
In the initial phase, capacity is expected to reach 1 million kWh/year, with expansion planned in subsequent years. The plant will not only ensure a stable supply of high-quality batteries for Kim Long Motor’s electric vehicle lines but also contribute to Vietnam’s deeper integration into the global value chain in the battery and EV industry - an industry regarded as a pillar of green transportation and the circular economy in the future.
Mr. Ho Cong Hai, General Director of Kim Long Motor, emphasized: “We regard the battery as the ‘heart’ of electric vehicles. Mastering core technology in battery pack production and assembly is the key to sustainable development. Cooperation with LG Energy Solution will enable Kim Long Motor to secure its supply, optimize costs, and control quality, aiming for world-class ‘Made in Vietnam’ EVs. Once operational, the plant will help achieve a localization rate of over 80% by Q.2, 2026, while affirming Vietnam’s position on the global clean energy map”.
This cooperation also represents the implementation of the Party and State’s major policy directions on science and technology development, innovation, green economy, digital transformation, and international integration.
Once operation starts, the Kim Long Motor Battery Production and Assembly Plant will not only create jobs, promote local economic growth, but also become a symbol of strategic cooperation between Vietnam and leading global technology corporations.