Once completed, some 2,000 jobs will be generated for local people.

It is currently operating two manufacturing facilities, GoHyeon and RaeSeo, in Qingdao - a city in eastern Shandong province on the east coast of China.

The inauguration ceremony of ESMO VINA in Gia Phu industrial cluster, Gia Vien district, Ninh Binh province this July, 2018 (Photo: Thanh Hai)

Apart from improving production capacity, the project (covering an area of 63,500m2 with total investment of VND700 billion) will meet customer demand and enhance its competitiveness through systematic production of specialized parts for hybrid and electric vehicles.

ESMO VINA will focus on manufacturing wiring harness - the company's flagship product with a production volume of about 450,000 products a year - used in large and small buses as well as battery module harness (battery module system) and electric vehicle charger cables, among others, to prepare for a forecast boom in hybrid electric vehicles from 2020.

In the context of international agreements on emission reduction that are being implemented to fight against climate change and greenhouse effect, reducing emissions from vehicles is also one of the important tasks for automobile manufacturing enterprises. Electric vehicles and hybrid vehicles are becoming more and more popular.

Early this March, it has partnered with UK business Volex for the exclusive supplier of Tesla Model 3 rechargeable cables (used in electric vehicles developed by Tesla Motors or equipment of Dyson UK) which is hoped to launch by end of this year./.

ATP