PRESS RELEASE: FUTA GROUP, KIM LONG MOTOR AND DONGFENG DANA SIGN A STRATEGIC COOPERATION AGREEMENT ON PRODUCTION AND DISTRIBUTION OF TRUCK BRIDGES

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Program: SIGNING CEREMONY OF STRATEGIC COOPERATION BETWEEN FUTA GROUP, KIM LONG MOTOR AND DONGFENG DANA

Time: From 10:00 – 12:00, Friday, November 15, 2024

Hubei Province, China, November 15, 2024

FUTA GROUP, KIM LONG MOTOR and DONGFENG DANA have signed a comprehensive strategic cooperation agreement on technology transfer, production lines and exclusive distribution of automobile axle products including internal combustion engine axles and axles. electric motors in Vietnam. This is considered the next historic milestone not only for the participating parties but also for the domestic auto industry.

With the vision: “Becoming the leading manufacturer of automobiles and auto parts in Vietnam; Participating deeply in the supply chain of the Vietnamese and regional automobile industry, aiming for Vietnamese automobile products to be strongly exported wholesale to the world market'', KIM LONG MOTOR pursues the strategy of Strategy to develop products under the KIM LONG brand through cooperation with well-known and reputable manufacturing corporations, manufacturers of engines, transmission systems and supporting technology suppliers for the automobile industry. leading in the world to create products with Scientific and technological content, localization rate and highest quality, modern, safe and comfortable. Accordingly, KIM LONG MOTOR Hue Automobile Manufacturing and Assembly Industrial Park is oriented to develop into a leading regional center for manufacturing automobiles and auto spare parts with the goal of achieving a high domestic content ratio. localized from 80% - 90% before the second quarter of 2026 and committed to becoming the market leader in both quality and output of internal combustion engine vehicles and new energy vehicles such as electric buses and trucks. electricity (heavy, medium, light) with the goal of exporting to the international market as the focus.

Through strategic cooperation with FUTA GROUP and DONGFENG DANA, KIM LONG MOTOR took another solid step forward when officially granted the right to produce vehicle axles and support the construction of advanced production lines in the Industrial Park. automobile production and assembly KIM LONG MOTOR Hue, Vietnam. DONGFENG DANA bridge will contribute to creating a "Golden" transmission system for products under the brand name KIM LONG MOTOR. With this cooperation, KIM LONG MOTOR will mass produce all types of axles from internal combustion engine axles. in electric vehicles, with a capacity of 80,000 vehicles per year, equivalent to 40,000 commercial vehicles and the highest automation rate (more than 60%). This is a breakthrough discovery, helping KIM LONG MOTOR increase the content of science and technology, improve output and ensure outstanding product quality, ready to meet the needs of domestic and international markets.

Dongfeng Dana Axle Co., Ltd (DONGFENG DANA) is a prestigious joint venture between two leading corporations in the automotive industry: Dongfeng Commercial Vehicles and Dana Incorporated of America, established in 2002. After more than two decades development, DONGFENG DANA has risen to become the largest axle manufacturer in Asia, specializing in providing high quality axle products for commercial vehicles (Passenger cars and trucks of all types).. The company owns a diverse product portfolio with more than 9,000 axle models, and impressive production capacity of up to 800,000 axles per year. DONGFENG DANA axle products are applied with advanced technology from the US, currently being widely used on more than 90% of commercial vehicles worldwide, typically the HYUNDAI brand. Not only that, DONGFENG DANA always focuses on investing in research and development (R&D), constantly creating and improving to bring optimal vehicle bridge solutions, meeting current technical requirements. greatest. Success is not only marked in the Chinese market, the company also expands its influence globally, becoming a trusted partner of the world's leading commercial vehicle manufacturers.

Mr. Dao Viet Anh - General Director of KIM LONG MOTOR shared: "KIM LONG MOTOR, we are committed to making the most of the resources, techniques and experience from DONGFENG DANA, and seriously investing in the construction production capacity in Vietnam. FUTA GROUP, KIM LONG MOTOR and DONGFENG DANA will continue to cooperate closely to soon realize the common goals set out, bringing product quality to new heights, for sustainable development and leading position. of all three businesses not only in Vietnam but in the international arena. ”

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About FUTA GROUP

Phuong Trang Group Investment Joint Stock Company (FUTA GROUP) was established in 2001. After more than 20 years of formation and development, FUTA GROUP has grown to become a leading economic group in Vietnam, operating in many pillars of the country's economy: passenger transport, goods transport, real estate, communication - advertising, stopover system,...

About KIM LONG MOTOR

KIM LONG MOTOR Hue Joint Stock Company (KIM LONG MOTOR) is the investor of the KIM LONG MOTOR Hue Automobile Manufacturing and Assembly Industrial Park project in Chan May - Lang Co Economic Zone, Thua Thien Hue province. The company operates in the field of manufacturing, assembling and trading automobiles; Producing components and auto parts and trading in industrial park infrastructure. KIM LONG MOTOR HUE Automobile Manufacturing and Assembly Industrial Park is a complex of many factories including: manufacturing and assembling buses, mini buses, trucks of all kinds, cars, manufacturing engines, bridges, gearbox, car body punching factory, chassis cutting and a complex of factories manufacturing supporting technology for the automobile industry, semiconductor technology, bonded warehouse systems... with a total area of ​​more than 600 hectares, located in Khu Kinh International - Chan May Lang Co, Thua Thien Hue province. Pursuing the business philosophy "Quality is life - Customers are the center", KIM LONG MOTOR is strongly committed to the mission: "Bringing true value to customers through modern, suitable products." , meeting unique needs and contributing to the country's socio-economic development."

Get more information at: https://kimlongmotor.com.vn

 

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