Auto component firm Cevo Mobility is planning to build a factory at Vietnam next year to expand into ASEAN countries, TheElec has learned.
A company spokesperson said the precise timeline has yet to be fixed but it is planning to build a production facility in Vietnam to use it as a bridgehead to form an export network to ASEAN markets.
The company was also looking for partnerships with local companies at Vietnam.
Cevo Mobility is currently developing its Cevo-V small electric vehicle and Cevo-U small electric truck.
The company plans to focus on the sales of its Cevo-C SE small electric vehicle next year.
It is planning to build an after-sales logistics center at Ansung in Gyeonggi Province next year to focus on servicing Seoul and other metropolitan areas.