New passenger car factory to be built in Huế
Kim Long Motor Huế Joint Stock Company and Changan Automobile Group have announced a plan to build the Kim Long Trường An Việt Nam passenger car factory with a designed production capacity of 50,000 vehicles per year.
THỪA THIÊN HUẾ — Kim Long Motor Huế Joint Stock Company and Changan Automobile Group (China) on Tuesday signed a co-operation agreement to build a passenger car factory at an industrial park in central city of Huế that will be capable of producing 50,000 vehicles per year.
Accordingly, the two parties plan to produce 5-7 seater vehicles at the new Kim Long Trường An Việt Nam facility.
The factory will be part of the Kim Long Motor Huế automobile manufacturing and assembly industrial park located in Huế's Chân Mây - Lăng Cô Economic Zone.
It will span an area of 30 hectares, with all production lines set to incorporate Changan's advanced and cutting-edge technologies.
Construction of the factory is scheduled to begin in 2025. Initially, the localisation rate will reach 40 per cent, with a target of exceeding 80 per cent by the second quarter of 2026.
When operational, the factory is expected to create thousands of jobs and significantly contribute to the state budget and the socio-economic development of Huế.
Kim Long Motor's General Director Đào Viết Ánh expressed that the partnership with Changan Automobile serves as a crucial foundation for the company to solidify its position in the domestic market and expand its reach internationally.
The company is committed to fully using its resources and technical expertise, while maintaining close collaboration with Changan Automobile to achieve their shared goals. They aim to begin operations at the factory promptly and jointly write a new chapter for Việt Nam’s automobile industry.
Deputy General Manager of Changan Automobile Group Wang Hui highlighted that this collaboration marks an essential step in its global strategy, and will serve as a critical starting point to penetrate the Vietnamese market.
The partnership between Kim Long Motor and Changan Automobile in Việt Nam will focus on several key pillars, including selecting unique product lines, developing a distribution system that meets brand standards and making investments in the 5-7-seater passenger car factory Kim Long Trường An Việt Nam. — VNS
