On January 27, 2026, construction began in Vietnam on the country's first factory for the production of batteries for electric vehicles. The project is being implemented by the Vietnamese company Kim Long Motor and the Chinese battery manufacturer BYD. The total investment amounts to US$130 million.
The groundbreaking ceremony took place on the territory of the Kim Long Motor auto industrial park in the city of Hue in the central part of the country.
As part of the cooperation, BYD provides technology and engineering expertise, while Kim Long Motor invests in the construction of the plant and the organization of production.
The project will be developed in two phases. In the first phase, the plant will occupy an area of 4.4 hectares and will produce batteries for electric buses, electric trucks and other vehicles for commercial use. In the second phase, the enterprise will be expanded to 10 hectares, and production will be supplemented with batteries for passenger cars. The products are aimed at both the domestic market and export.
The batteries are planned to be used in electric transport, which Kim Long Motor produces in Vietnam under its own brand. The company is currently developing a 34-seater sleeper electric bus designed for intercity transportation. It is expected to be the first such solution not only in Vietnam, but also in Southeast Asia.
The company notes that the launch of its own production will reduce dependence on imports and strengthen the country's position in the electric transport segment. Kim Long Motor expects that already in 2026 the share of local production in the company's projects will exceed 80%.