FUTA GROUP, KIM LONG MOTOR, AND DONGFENG DANA SIGN A STRATEGIC PARTNERSHIP AGREEMENT ON AXLE MANUFACTURING AND DISTRIBUTION

15-11-2024

On the morning of November 15, in Xiangyang City, Hubei Province, China, FUTA GROUP, KIM LONG MOTOR, and DONGFENG DANA officially signed a strategic cooperation agreement regarding technology transfer, production lines, and exclusive distribution rights for DONGFENG DANA axle products in the Vietnamese market.

FUTA GROUP, KIM LONG MOTOR, and DONGFENG DANA officially reach a strategic cooperation agreement

The event was attended by Mr. Zhang Bin, Vice Mayor of Xiangyang City, Hubei Province, China; Mr. Truong Dinh Quan, Vice Chairman of the Board of Directors of FUTA GROUP; Mr. Lu Ding Wen, General Director of DONGFENG DANA; Mr. Dao Viet Anh, General Director of KIM LONG MOTOR, along with senior representatives from FUTA GROUP, DONGFENG DANA, and KIM LONG MOTOR.

Mr. Dao Viet Anh, General Director of KIM LONG MOTOR, and Mr. Lu Ding Wen, General Director of DONGFENG DANA, officially sign the strategic cooperation agreement

Dongfeng Dana Axle Co., Ltd (DONGFENG DANA) is a reputable joint venture established in 2002 between two major corporations, Dongfeng Commercial Vehicle and Dana Belgium. The company has developed robustly and solidified its leading position with high-quality axle products, particularly catering to medium and light commercial vehicles. DONGFENG DANA boasts a diverse product portfolio and outstanding capabilities in axle research, design, manufacturing, and distribution, serving not only the Chinese market but also expanding internationally.

Mr. Zhang Bin, Vice Mayor of Xiangyang City, speaking at the ceremony

Through this strategic cooperation with FUTA GROUP and DONGFENG DANA, KIM LONG MOTOR has officially received the rights to manufacture axle products and support for establishing an advanced production line at KIM LONG MOTOR’s automotive manufacturing and assembly industrial park in Hue, Vietnam. DONGFENG axles will contribute to creating a “gold standard” drivetrain system for KIM LONG MOTOR-branded products. With this cooperation, KIM LONG MOTOR will mass-produce various types of axles for both internal combustion engine vehicles and electric vehicles, with a capacity of 80,000 axles per year, equivalent to 40,000 commercial vehicles, and a high level of automation (over 60%).

Mr. Pham Dang Quan, Vice Chairman of the Board of Directors of FUTA GROUP, speaking at the ceremony

With the licensing and technology transfer, KIM LONG MOTOR will produce and exclusively distribute DONGFENG axles in the Vietnamese market, helping increase market share and meet localization demands optimally. In addition, KIM LONG MOTOR will advance towards exporting complete KIM LONG-branded vehicles equipped with the “gold standard” drivetrain system featuring DONGFENG axles.

Mr. Lu Ding Wen, General Director of DONGFENG DANA, speaking at the ceremony

Speaking at the ceremony, Mr. Dao Viet Anh, General Director of KIM LONG MOTOR, shared, “At KIM LONG MOTOR, we are committed to fully utilizing the resources, technology, and experience from DONGFENG DANA, while seriously investing in building production capabilities in Vietnam. FUTA GROUP, KIM LONG MOTOR, and DONGFENG DANA will continue to work closely to quickly realize the common objectives set out, elevating product quality to new heights for the sustainable development and leadership position of all three companies, not only in Vietnam but also internationally.”

Mr. Dao Viet Anh, General Director of KIM LONG MOTOR, speaking at the ceremony

The strategic cooperation between FUTA GROUP, KIM LONG MOTOR, and DONGFENG DANA is not only crucial for the development of Vietnam's automotive industry but also strengthens diplomatic relations between Vietnam and China. This partnership truly serves as the “key” for KIM LONG MOTOR to expand its reach across the region and globally, asserting its leading position in Vietnam's automotive parts manufacturing industry and deeply integrating into the global product value chain.

KIM LONG MOTOR DONGFENG DANA Ký kết hợp tác chiến lược