KG Mobility has partnered with Vietnam's Kim Long Motor, a subsidiary of the Futa Group, to export parts for assembly and production in Vietnam.
The partnership involves a knocked-down (KD) contract.
The Futa Group, valued at $2.3 billion, operates automotive sales and passenger transportation businesses.
Kim Long Motor intends to build a dedicated KD facility in an industrial park near Danang, which is projected to produce 15,000 units, including Tivoli, Korando, Torres, Rexton, and Rexton Sports, in 2024.
It is expected to produce 210,000 units by 2029 and generate an estimated $4.6 billion in sales.’
The collaboration marks KG Mobility's inaugural production base within the Association of Southeast Asian Nations (ASEAN) and signifies the company's ambition to increase its export volume in the region.
