- The battery plant involves a total investment of $130 million, with a combined annual capacity of 6 GWh across two phases.
- Phase one has an annual capacity of 3 GWh, primarily supplying batteries for trucks, buses, vans, and other commercial vehicles.
BYD (HKG: 1211, OTCMKTS: BYDDY) has commenced construction of a battery factory in partnership with a Vietnamese automaker to explore the growing Southeast Asian market.
Vietnamese automaker Kim Long Motor announced Tuesday it is collaborating with BYD to construct a $130 million electric vehicle (EV) battery production facility in Vietnam.
The facility is located within Kim Long's industrial park, where a groundbreaking ceremony was held Tuesday morning, according to a statement from the Vietnamese automaker.
The plant will be developed in two phases. The first phase, spanning 4.4 hectares, will have an annual capacity of 3 GWh. It will primarily supply batteries for trucks, buses, vans, and other new energy commercial vehicles, targeting regional market exports.
Phase two will expand capacity to 6 GWh annually.
Kim Long has developed and produced 34 electric sleeper buses utilizing BYD's battery technology, the Vietnamese automaker said.
The announcement did not specify when the battery plant will commence operations.
BYD has launched multiple models in Vietnam, including the Atto 3 — known as the Yuan Plus in China.
The company is the world's largest new energy vehicle (NEV) maker and the second-largest EV battery manufacturer.
From January to November, BYD's EV battery installations totaled 175.2 GWh, securing the global No. 2 position with a 16.7% market share, according to data from South Korean market research firm SNE Research.
| Company | Market Share (%) | Installations (GWh) |
|---|---|---|
| CATL | 38.2% | 400.0 |
| BYD | 16.7% | 175.2 |
| LG Energy Solution | 9.3% | 96.9 |
| CALB | 4.9% | 50.9 |
| Gotion High-tech | 4.3% | 44.9 |
| SK On | 3.9% | 40.6 |
| Panasonic | 3.7% | 38.5 |
| Eve Energy | 2.7% | 28.4 |
| Svolt | 2.6% | 27.5 |
| Samsung SDI | 2.6% | 27.1 |
| Others | 11.1% | 116.1 |
