On January 14, at Chan May - Lang Co Economic Zone, Hue City, Kim Long Motor Hue Joint Stock Company and Changan Automobile Group (China) signed a cooperation agreement and announced a plan to build a 5-7 seat tourist car factory, Kim Long Truong An Vietnam.
The project will be implemented at Kim Long Motor Hue Automobile Production and Assembly Industrial Park, with a total construction area of 30 hectares.
The factory has a designed capacity of 50,000 vehicles/year, including electric and hybrid vehicles, using modern, advanced technology production lines.
The factory will start construction in 2025 and initially achieve a localization rate of 40% and aim for over 80% by the second quarter of 2026.
With the commitment to become the leading enterprise in the domestic vehicle market, not only in terms of quality but also in terms of output of internal combustion engine vehicles and new energy vehicles such as 5-7 seat hybrid and electric passenger cars, electric buses, electric trucks (including a full range of vehicles from light, medium to heavy trucks), Kim Long focuses on exporting to international markets as the focus of development.
According to Mr. Dao Viet Anh - General Director of Kim Long Motor, 2024 will witness a strong transformation of the Vietnamese automobile market, especially the rise of electric and new energy vehicle models.
“With over 163 years of experience and superior technology, we believe in the success of Changan Automobile. Kim Long Motor also identifies the main pillars in the development cooperation strategy with Changan Automobile in Vietnam, including: Selecting a unique product range; developing a distribution system according to brand standards; and investing systematically in the Kim Long Truong An Vietnam 5-7 seat passenger car factory” – Mr. Dao Viet Anh emphasized.
Changan Automobile Group was founded in 1862. In 2024, the Group had the largest sales in China reaching over 2.6 million units.
Mr. Vuong Huy - Deputy General Director of Changan Automobile Group shared that this cooperation event with Kim Long Motor is an important step in Changan Automobile's globalization strategy and an important starting point for the group to penetrate the Vietnamese market. The two sides will conduct in-depth cooperation in product technology, brand marketing, supply chain, OEM cooperation, social responsibility and other aspects.
In the immediate future, in the next three years, the factory will focus on producing DEEPAL brand products, expected to launch on the market with 5 models to meet the green and smart travel needs of Vietnamese consumers.
The two sides will build a nationwide sales and service network with the goal of having 80 showrooms completed in the next three years.
