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|This will be Esmo's third facility, after two plants in China|
Esmo (formerly Nexen Tech) has just started the construction of Esmo Vina—its first wiring harness factory in Vietnam. Covering an area of 63,500 square metres at Gia Phu Industrial Zone of the northern province of Ninh Binh with the total investment of VND700 billion ($30.39 million), the facility is expected to create about 2,000 jobs for local people.
Eyeing the explosion of hybrid electric vehicles from 2020, Esmo Vina will focus on wiring harness—the company's flagship product with a capacity of about 450,000 products per year—used in large and small buses as well as battery module harness (battery module system) and electric vehicle charger cables.
As international agreements on emission reduction are being implemented to fight against climate change and the greenhouse effect, reducing emissions from vehicles is one of the important tasks of automobile manufacturers. Electric vehicles and hybrid vehicles are becoming more and more popular, leading to the development of the corresponding parts industry that Esmo pioneers.
|The perspective of the facility|
Based on the manufacturing experience as well as a team of skilled local and international engineers, Esmo Group is expected to contribute to promote economic growth for Ninh Binh in particular and Vietnam in general. Besides, it is expected to create about 2,000 jobs for local people, which will not only help upskill the local labour force, but also enhance local competitiveness.
Esmo currently operates two manufacturing facilities (GoHyeon and RaeSeo) in Qingdao (China). In order to expand its business to Southeast Asia, Esmo has just established Global Land Vina Co., Ltd. in Vietnam in addition to building this third facility. The company also plans to increase the production volume for Southeast Asia’s rapidly growing car manufacturers.
In early March, Nexen Tech partnered up with UK business Volex to expand its wiring harness business network, including the exclusive supply of Tesla Model 3 rechargeable cables (used in electric vehicles developed by Tesla Motors or equipment of Dyson UK) which is expected to launch by the end of this year.
Nexen Tech has been renamed to Esmo earlier this May.