ESMO Corporation (Korea) Kicked off The First Automobile Cable Factory in Vietnam

ESMO Corporation (precursor is NEXEN TECH Corporation – Korea) has just started construction of the first ESMO VINA automobile cable factory in Vietnam.

ESMO VINA automobile cable factory has a total area of 63,500 m2 and total investment capital of 700 billion VND, located in Gia Phu Industrial Complex (Ninh Binh), expected to create jobs for 2,000 employees.

The ESMO VINA factory was established to improve the production capacity of the ESMO Corporation, in order to meet the demands of new orders, as well as enhancing the competitiveness through the systematic production of components and spare parts for hybrid vehicles and electric cars.

The plant will focus on the production of Wiring Harness – the company’s flagship product with a production volume of about 450,000 products a year – used in large and small buses, Battery Module Harness, electric vehicle charger cable… with a view to the explosion of hybrid vehicles and hydrogen vehicles from 2020.

In the context of international commitments on reducing emissions are being promoted to combat climate change and the 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, leading to the development of the corresponding spare parts industry that ESMO is one of the pioneers.

Thanks to the strength of experience in production as well as the high-level engineers from both domestic and foreign countries, ESMO Corporation is expected to contribute to promoting economic growth for Ninh Binh in particular and Vietnam in general, at the same time creating more jobs for local people; it not only helps to train human resources but also strengthens local competitiveness compared to other regions of the world.

Currently, the ESMO Corporation is operating two manufacturing plants in Qingdao (China), which are GoHyeon and RaeSeo factories. In order to realize the goal of expanding the business scope of the group into Southeast Asia, besides building a third factory in Vietnam, ESMO has established Global Land Vina Co., Ltd. ESMO is also planning to increase the volume of its supply to the fast-growing and highly-concentrated automobile manufacturers in South East Asia.

Previously, in March 2018, NEXEN TECH (now ESMO) has partnered with Volex – UK-based Power and Connectivity Solutions to expand its business network with manufacturing projects to produce Wiring harness, electric vehicle charger cable; including the exclusive supply of Tesla Model 3 rechargeable electric cables (used in electric vehicles developed by Tesla Motors and Dyson Group equipments), which is scheduled for release later this year.

NEXEN TECH has been renamed ESMO in early May 2018.

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Summary
ESMO Corporation (Korea) Kicked off The First Automobile Cable Factory in Vietnam
Article Name
ESMO Corporation (Korea) Kicked off The First Automobile Cable Factory in Vietnam
Description
ESMO Corporation (precursor is NEXEN TECH Corporation - Korea) has just started construction of the first ESMO VINA automobile cable factory in Vietnam. It shows that Vietnam is an attractive market for investors to explore and set up business in Vietnam