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South Korea’s LG Energy Solution and Vietnam’s Kim Long Motor signed the LGES–Kim Long NCM battery MoU. The LGES–Kim Long NCM battery MoU covers supply of NCM cylindrical cells for local pack assembly. The LGES–Kim Long NCM battery MoU positions Hue as a new battery hub.
Kim Long will start its Hue battery complex in early 2026. The initial capacity is 1GWh per year. The company plans staged expansions to meet regional demand.
Vietnam’s policy tailwinds strengthen this pact. The government targets 100% urban buses as electric by 2030. It plans to end fossil-fuel vehicle production and imports by 2040.
Early capacity, regional demand, and bus orders
The Hue project launches with 1GWh annual output. Local pack assembly reduces logistics costs and lead times. It also builds workforce skills and supplier depth.
Downstream demand already forms. Thailand’s Cho Thavee plans to purchase 3,000 buses per year. That pipeline can anchor initial volumes and scale.
NCM cylindrical cells fit fleet needs. They offer energy density for range and duty cycles. They also align with established pack formats and service models.
Policy roadmap and localization advantages
Vietnam’s green transport roadmap sets clear EV milestones. Urban vehicles move to 50% electric by 2030. Urban buses and taxis target 100% by 2030. Localization reduces currency and tariff risks. It encourages vendor clustering in electrodes and foils. It also enables faster homologation for ASEAN fleets.
As a result, Vietnam can expand upstream inputs over time. Anode, cathode, and separator suppliers may co-locate. Recycling capacity can follow to close loops.
The Metalnomist Commentary
The MoU gives Vietnam a credible battery beachhead. Early 1GWh capacity, bus demand, and policy goals align. Watch cell format choices, raw-material sourcing, and recycling plans for margin security.
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