To The Moon

Vietnamese automaker Kim Long Auto announced on Tuesday that it will collaborate with China's BYD Company Limited to invest in a $130 million commercial electric vehicle battery plant in central Vietnam. According to a statement from Kim Long Auto, under the agreement, the company will bear the construction costs for the factory, while BYD will provide comprehensive technical support. Kim Long Auto stated in the declaration that the facility will occupy 4.4 hectares of land and have an annual production capacity of 3 gigawatt-hours. The company indicated that the plant is expected to commence operations soon, although a specific timeline was not disclosed. In the project's second phase, the factory's area will be expanded to 10 hectares, with its annual capacity doubling to 6 gigawatt-hours, and a new production line for passenger electric vehicle batteries will be added. The factory will manufacture batteries for commercial vehicles such as buses, trucks, and minibuses. Vietnam's electric vehicle market is experiencing rapid expansion, with local manufacturer VinFast holding a dominant position in the industry. VinFast recently launched the EC Van, an electric cargo van, marking its official entry into the commercial vehicle sector; this model is specifically designed to support sustainable urban freight transport.