According to the EIA report released in September 2024, the factory will be located on Lot B (B3) with an area of approximately 2.4 hectares in the Quang Chau Industrial Park, Viet Yen Town, Bac Giang Province. The project was recently granted an investment certificate by the Bac Giang Industrial Zones Management Authority in August 2024.
As the factory will be leasing an existing workshop from the Vinafor Bac Giang plywood manufacturing plant, only renovation of the workshop, construction of auxiliary facilities, and installation of machinery are required. The project is expected to be completed within three months, starting from the third quarter of 2025, and will be commercially operational by the fourth quarter of the same year. The factory’s production technology is mainly automated (approximately 90%).
The project has an investment capital of approximately VND 227 billion, of which VND 164 billion is owner’s equity, and the rest is borrowed and mobilized capital. The factory is licensed to operate for 10 years.
The AIMA two-wheeled electric vehicle factory has a capacity of approximately 245,000 units per year. This includes the production and assembly of motorcycles, scooters, electric scooters, electric bicycles, and other two-wheeled electric vehicles, amounting to 100,000 units per year. Additionally, they will produce bells, electric vehicles, and other electric accessories, totaling 80,000 products per year, along with the manufacturing of transformers, relay circuits, and electric controls for motorcycles, scooters, and electric scooters, reaching 45,000 products per year.
The project is owned by Powelldd Technology Company Limited, established in 2023 and headquartered in Quang Chau Industrial Park, Viet Yen Town, Bac Giang Province. Mr. Luo Jiangang, a Chinese national, serves as the company’s director and legal representative. Powelldd Technology has a chartered capital of approximately VND 190 billion, owned by Sunton Technology HongKong Ltd., a company headquartered in Hong Kong, China.
Quang Chau Industrial Park is a diverse, environmentally friendly park that hosts a range of industries, including electronics, automotive assembly, mechanical engineering, food processing, consumer goods, and high-tech support industries. Therefore, the electric vehicle manufacturing industry is considered a perfect fit for the park’s investment attraction strategy.
In recent years, Bac Giang Province has witnessed a string of investments in two-wheeled electric vehicle manufacturing and assembly projects. At the beginning of 2024, in Tan Hung Industrial Park, Bac Giang Province, Electric Motorcycle Yadea Vietnam Joint Stock Company held a groundbreaking ceremony for their smart electric scooter factory with a total investment of nearly USD 100 million (approximately VND 2,400 billion).
Occupying an area of over 232,000 square meters, the factory is expected to be completed and operational by the second quarter of 2025. This is Yadea Group’s second expansion plan in Southeast Asia, both located in Vietnam and in Bac Giang Province. With a designed capacity of 2 million electric vehicles per year, the factory’s output is four times that of the first factory in Quang Chau Industrial Park, Viet Yen Town. Once operational, the factory will provide employment opportunities for approximately 3,000 workers.
Yadea Group constructed their first electric vehicle assembly factory in Vietnam in 2019 with a total investment of USD 13 million (approximately VND 318 billion) and a capacity of 500,000 units per year. The company achieved a revenue of approximately VND 622 billion in 2022.
Groundbreaking ceremony of Yadea’s smart electric scooter factory. Source: Lang Giang District’s Information Portal, Bac Giang Province
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Tu Kinh
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