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BYD Seals Deal with Vietnam's Kim Long to Build Battery Plant with USD130M
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BYD COMPANY (01211.HK) has officially signed an agreement with Vietnam's Kim Long Motor to construct an electric vehicle (EV) battery plant in central Vietnam, focusing on commercial vehicle supporting facilities, with a total investment of USD130 million, as disclosed by the Vietnamese government website. Pursuant to the agreement, the project will be implemented in two phases. The first phase involves constructing a 4.4-hectare covered factory, forming an annual production capacity of 3 gigawatt-hours of power batteries. The second phase will expand by an additional 6 hectares, bringing the total area to 10 hectares, and will add a passenger vehicle battery production line, increasing the total capacity to 6 gigawatt-hours. The products will cover the battery needs of buses, trucks, and small passenger vehicles. AASTOCKS Financial News Website: www.aastocks.com |
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