Yadea pours US$100 million into electric motorcycle plant
VOV.VN - Hong Kong (China) group Yadea has been licensed to build an electric motorcycle manufacturing plant in the northern province of Bac Giang, a gateway to Hanoi capital.
The US$100 million plant will be built on an area of more than 23ha at Tan Hung industrial park in Lang Giang district. It will have a design capacity of approximately 2 million units a year. A groundbreaking ceremony is scheduled to take place in the second quarter of this year.
A memorandum of understanding to this effect was signed and handed over to the representative of Vietnam Yadea Electric Motorcycle Company Limited in Bac Giang on January 7.
Addressing the ceremony, the director of Vietnam Yadea Electric Motorcycle Company Limited, revealed Vietnam is the first place the group has invested abroad, and products of the Bac Giang plant will be exported to the world.
The group will continue to expand its investment in Bac Giang and Vietnam with a total investment of about US$150 million, he said.
According to the executive, at present there are about 500,000 Yadea electric motorbikes sold in Vietnam and 500,000 exported to the world. Yadea plans to build a research and development center in Bac Giang that is anticipated to create 3,500 jobs for local people.