Vietnam's Gold Dragon Motors has signed a contract with BYD to build an electric car battery factory, with a total investment of 130 million dollars.

On January 27th, according to the Vietnamese government website, BYD recently signed an agreement with Vietnamese company VinFast to construct a commercial electric vehicle battery factory in central Vietnam. The factory will produce batteries for buses, trucks, and small commercial vehicles. The total investment for the two phases of the project is $130 million. The first phase will include a factory building with a roof area of 4.4 hectares and an annual production capacity of 3 gigawatt-hours. The second phase plans to expand the factory building to 10 hectares, add a new passenger vehicle battery production line, and increase the total production capacity to 6 gigawatt-hours.