Vietnam Embraces Cutting-Edge Technology with State-of-the-Art Manufacturing Facilities
In a significant development, Kim Long Motor Huế Joint Stock Company and YuChai Company Limited (China) have officially signed a comprehensive strategic cooperation agreement for engine manufacturing in Vietnam.
Marking this occasion, Kim Long Motor and YuChai held a groundbreaking ceremony for the construction of the Kim Long Motor Engine Manufacturing Plant in the Kim Long Motor Huế Automobile Production and Assembly Industrial Park, located in the Chan May – Lang Co Economic Zone.
This marks the first time Vietnam has been entrusted with leading-edge technology for the autonomous production of modern automobile engines and engines for other industries.
Image Source: kimlongmotor.com
The Kim Long Huế Engine Manufacturing Plant boasts a total investment of 260 million USD, divided into two phases. Phase 1 focuses on the production of engines for the automotive industry and is slated to commence operations in the second quarter of 2025, with an automation level reaching 90%.
In the initial phase, the plant will prioritize the production and assembly of internal combustion engines (Diesel), CNG engines, and electric motors, with an annual capacity of over 12,000 engines. The subsequent phase will concentrate on investing in the production and manufacturing of automotive bridges, gearboxes, and drive systems.
The plant’s product portfolio encompasses a diverse range of engines, including those used in automobile manufacturing, marine engines, generators, agricultural machinery, and construction equipment.
The plant’s output is designed not only to meet the production needs of Kim Long Motor and serve the domestic market but also to target exports to ASEAN countries, South Korea, and other markets.
The inauguration of the Kim Long Motor Engine Manufacturing Plant, along with Kim Long Motor’s large-scale metal stamping plant and auxiliary technology plants, is expected to usher in a technological breakthrough, enhance scientific and technological content, and, most importantly, establish Vietnam’s autonomy in automobile manufacturing technology.
The leadership of Kim Long Motor Huế shared, “We are incredibly proud that modern Made-in-Vietnam automobiles bearing the name Kim Long will soon be cruising on the roads of our nation and beyond.”
Unveiling the Powerhouse Behind the 260 Million USD Project
Kim Long Motor Huế Joint Stock Company was established in 2018 with an initial charter capital of 500 billion VND. According to information from the Investment Knowledge Newspaper (Vietnam Securities Times), the three major shareholders of Kim Long Motor include Kim Long Nam Joint Stock Company, contributing 450 billion VND (equivalent to 90% of capital), along with two individuals, Nguyen Hai Dang and Nguyen Tri Dung, each holding 25 billion VND (5% stake). By 2020, the company had increased its charter capital to 680 billion VND.
This enterprise deals in a comprehensive range of commercial and passenger vehicles from various brands. It has developed a nationwide automobile distribution system, adhering to the standards of each brand, to cater to the diverse needs of its customers. The company is also the investor behind the Kim Long Motor Huế Automobile Production and Assembly Industrial Park project in the Chan May – Lang Co Economic Zone, Thua Thien Hue province.
The Kim Long Motor Huế Integrated Production and Assembly Complex is a hub for the production and assembly of passenger cars, trucks, and buses, as well as automobile parts and components. The project aims to assemble buses that meet Euro 5 emission standards and above, with a capacity of 16,000 vehicles of various types, including two flagship products: a 30- to 45-seat bus and a 16-seat shuttle bus.
This project is being developed on approximately 160 hectares of land, with a phase 1 investment of around 3,330 billion VND. The projected capacity is approximately 108,800 automobiles per year. Currently, the company has substantially completed the construction of phase 1, achieving an average production capacity of about 500 vehicles per month.
Since the passenger car assembly plant commenced operations in February 2024, it has produced nearly 300 vehicles, including sleeper buses, seat buses, city buses, and mini buses. Over 200 sleeper buses (34 beds) have already been delivered to customers.
The enterprise contributed approximately 291 billion VND to the state budget in the first seven months of 2024, with a cumulative contribution of about 408 billion VND to date. Additionally, it has provided employment to around 1,800 people, of which 70% are locals from Thua Thien Hue province.
For the year 2024, the company is expected to contribute approximately 2,000 billion VND to the state budget. Upon the completion of the entire project, the annual contribution is projected to reach around 8,000 billion VND, and the project is anticipated to create jobs for about 8,000 workers…
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