KG Mobility, or KGM, said Friday it met with Kim Long Motors, a unit of Vietnam’s FUTA Group and its KD partner, to inspect the production site and discuss detailed cooperation plans as it prepares to enter the Vietnamese market.
The meeting was held March 11 (local time) at FUTA Group’s headquarters in Da Nang, in central Vietnam. Attendees included KGM Chairman Kwak Jae-sun; Kwon Kyo-won, head of KGM’s business division; FUTA Group Chairman Nguyen Huu Luan; Mai Tien Phat, president of FUTA Group’s vehicle dealership company; and Ho Cong Hai, head of KLMH, along with other officials.
Ahead of the talks, Kwak on March 10 visited KLMH (Kim Long Motors Hue), a KGM-dedicated KD plant in the Hue Industrial Park that is in the final stage of construction, to check readiness by process and review support needs, KGM said.
Kim Long Motors plans to begin full-scale KD production of key KGM models, including the Rexton and Musso, in the second half of this year after the plant is completed.
“The Vietnam plant is expected to supply high-quality vehicles to the market by providing not only KD but also KGM’s full set of production equipment, reflecting KGM’s manufacturing know-how,” Kwak said. “The two companies will cooperate to produce vehicles of the highest quality.”
Kwak said Vietnam is “a high-potential market” where vehicle purchases are expected to rise sharply and a strategic hub for expanding exports across Southeast Asia. He added that KGM will continue to increase global sales by developing new markets beyond existing ones such as Europe and by expanding overseas launches of new models, including the Musso.
FUTA Group is a Vietnamese company that operates auto sales and passenger transportation businesses. Kim Long Motors is its automotive subsidiary. The two companies formed a partnership in 2023 by signing a licensing agreement for local assembly production in Vietnam.
KGM said it is accelerating expansion of its KD business to increase export volumes. Outside Vietnam, it signed an HOA (heads of agreement) in May last year to supply KD kits to Indonesia, and plans to expand KD operations this year to Bangladesh and Sri Lanka as well.
* This article has been translated by AI.
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