PEGA's electric vehicle production chain (Photo: autotv.vn)Hanoi (VNA) – The establishment of an electric vehicle productioncomplex in the Hanoi Southern Supporting Industrial Park (HANSSIP) will give abreath of fresh air to Vietnam’s electric vehicle industry.
The N&G Investment & Development JSC and the MBI JSC from the Republicof Korea inked a Memorandum of Understanding to develop an electric vehicleproduction factory at HASSIP during a recent investment promotion conference inHanoi.
Boasting strengths in research, transmission system manufacturing andstate-of-the-art technology, the project will create a turning point for theelectric vehicle production industry in Vietnam.
Le Hoang Long, CEO of PEGA Electric Vehicle JSC, which is targeting a 70percent local content in 2018, said battery and transmission engine are themost difficult phases to complete production chain in Vietnam.
A foreign company’s investment in the sector is an upbeat sign, offering a widerange of choices for the company to improve production chain, Long stressed.
Vice Chairman of the European Chamber of Commerce (EuroCham) in Vietnam TomasoAndreatta said developing electric vehicle production is a judicious move,paving way for Vietnam to become a leading country in terms of green energy.
The production facility will be built in an area of 33,600 square metres withtotal investment of 1 billion USD, MBI Chairman Moon Soon Yoo said, adding that100,000 USD of the sum will be disbursed at the first phase of the project.
He stated that as electric vehicle production is rather new in Vietnam, theGovernment and Hanoi authorities should map out policies to encourage peopleuse electric bikes and cars to reduce alarming air pollution in the citybesides simplifying administrative procedures.
Vietnam is a fertile land for two-wheel vehicle production with hundreds ofspare part manufacturing plants meeting international standards. According tothe Vietnam Association of Motorcycle Manufacturers, the country produces2.8-3.3 million motorbikes every year.-VNA
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