Yadea break ground on its $100 million Bac Giang factory
Yadea break ground on its $100 million Bac Giang factory
Yadea held a groundbreaking ceremony for its second factory in the northern province of Bac Giang on January 21, marking a new phase of development for the Chinese electronic vehicle (EV) manufacturer in Southeast Asia.
Yadea's factory covers an area of 232,200 square metres in Tan Hung Industrial Park, Lang Giang district of Bac Giang. With a cost of $100 million, the factory has a designed capacity of two million electric motorcycles per year, quadrupling the capacity of Yadea's first factory, which has been in operation since 2019 in the same locality.
Scheduled for operations to commence in 2025, the facility aims to reshape the electric motorcycle landscape in the region. About 30 per cent of the factory's output will be exported to other countries in Southeast Asia, including the Philippines, Thailand, Malaysia, and Laos.
The factory will also be equipped with cutting-edge production technology, including an automated production line. Once operational, the project is expected to generate employment opportunities for approximately 3,000 workers, consolidating Yadea's commitment to the Bac Giang economy.
In addition to the new factory, Yadea also plans to set up a research and development (R&D) centre in the new factory, employing between 100 and 300 experts from Vietnam, India, Japan, Thailand, and China. The company aims to produce smart e-scooters to meet the demand of customers in Vietnam and in the region.
"The R&D centre will specialise in researching the mobility behaviours of the Vietnamese and Southeast Asian population. It will produce products designed to suit the preferences of Vietnamese people in line with Yadea's global standards for quality control procedures," Rong Wen You, CEO of Yadea Vietnam, said.
According to an industry report on by communications consultancy Vero, Vietnam’s EV industry started off at a slow pace, but the potential for substantial growth is undeniable. Brands entering the EV race have a golden opportunity to leverage this burgeoning market by capturing early adopters, building trust, and establishing a strong foothold to reap long-term benefits.
Yadea entered the Vietnamese market in 2019 and has since emerged as a formidable contender in direct competition with local EV firms such as VinFast and Pega.
