Amid the continued expansion of electric vehicle manufacturing capacity in Southeast Asia, MOVE Vietnam has commenced construction of its third electric vehicle manufacturing plant in Vietnam with a groundbreaking ceremony at Industrial Park No. 3 in Hung Yen Province.

The project forms part of a series of investments initiated at the beginning of 2026 and is aligned with the company's strategy to develop electric automobile and motorbike technology.

Project scale and supply chain role

The ceremony was attended by leaders of the Department of Construction Planning and Natural Resources and Environment Management, the Hung Yen Provincial Industrial Parks Authority, and representatives of relevant authorities, the investor and strategic partners.

With a total area of 30,000 metre square and total investment capital of up to US$ 20 million, MOVE Electric Vehicle's third plant is scheduled to begin operations in 2026. Once operational, the company's total production area is expected to expand to 60,000 metre square, increasing system-wide capacity to 480,000 vehicles.

MOVE stated that it will focus on workforce development to establish an R&D centre, strengthen its capabilities in core technologies, and expand domestic manufacturing capacity.

According to the company, the application of international standards is expected to improve product quality. The expansion is also intended to support diversification of distribution channels, entry into Southeast Asian markets from 2026, and the development of Vietnam's electric vehicle industry.

The company stated that its investment scale and localisation plan are designed to support capital mobilisation and cooperation with investment funds and industrial partners in Vietnam.

Production and operational strategy

At the ceremony, Mr Le Truong Manh, General Director of MOVE Vietnam Electric Vehicle, stated that the project represents a shift from expanding scale to focusing on deeper development, including greater control over design and core technologies.

Mr Le Truong Manh stated that MOVE Vietnam has developed an operational structure covering manufacturing, distribution and after-sales services.

MOVE Vietnam indicated that the third plant is intended to serve the domestic consumer market and support the company's production and technology objectives.

Mr Tran Duc Tuan, General Director of Andes E&C Vietnam JSC, the project's main contractor, stated that the production complex reflects a structured investment approach and planned capacity expansion. He added that the project contributes to infrastructure development in Hung Yen Industrial Park and may support employment and industrial activity in the area.

A representative of MOVE Vietnam stated that during the 2026-2030 period, the company will continue to invest in research, quality improvement and product development. In addition to the domestic market, the company plans to allocate capital towards expanding its presence in selected Asian markets.

The ground-breaking of MOVE Vietnam Electric Vehicle's third manufacturing plant in Hung Yen Industrial Park marks the commencement of construction for the facility and the planned expansion of the company's production capacity.