Lite-On Technology to inject additional $149 million into Vietnam

Lite-On Technology to inject additional $149 million into Vietnam

Taiwanese electronics maker Lite-On Technology plans to inject an additional $149 million into its wholly owned subsidiaries in Vietnam to expand production capacity and strengthen its manufacturing footprint.

Lite-On Technology to inject an additional $149 million in Vietnam. Illustration image

The company will allocate $110 million to Lite-On Vietnam to support capacity expansion. Another $39 million will be spent on factory construction and operating expenses in the northern province of Quang Ninh, according to filings with the Taiwan Stock Exchange in late April.

Its facility in Quang Ninh's investment in phase two will be completed in 2028, bringing the capacity to more than 95 million products a year. By 2030, the group will complete the entire facility with a total capacity approximating 124 million products annually.

The capital will be disbursed in phases, depending on actual funding requirements.

Following the latest injections, Lite-On’s cumulative investment in its facilities in Vietnam is expected to reach approximately $432.5 million, while total investment in the country will rise to about $159 million. The company maintains full ownership of both subsidiaries, with no restrictions on shareholder rights.

Entering the country in 2013, Lite-On Vietnam specialises in semiconductor components and electronic parts manufacturing at the Vietnam-Singapore Industrial Park industrial park in the northern port city of Haiphong. The company inaugurated its phase-two factory at the site in November 2022.

Meanwhile, the company is developing a major manufacturing facility at Song Khoai Industrial Park in Quang Ninh, with a total planned investment of around $690 million and a site area of roughly 30 hectares.

The factory specialises in manufacturing electronic computer components, cameras, wireless network connection devices, power converters, electric vehicle chargers, car lights, plastic products, and many other electronic devices.

The latest capital injections underscore Lite-On’s continued expansion in northern Vietnam, as global electronics manufacturers scale up production capacity in the country. Lite-On is a potential partner for tech brands such as Fuji Xerox, Kyocera, ASUS, Amazon, IBM, Motorola, Sony, Samsung, Sharp, Nokia, and Lenovo.

VIR