The Auto-Parts Export Center of Toyota Motor Vietnam Co. (TMV) has reported its 2008 exports of about US$25 million, up 10% year-on-year, taking to over US$92 million the total amount in 4.5 years since the center’s startup. TMV’s part was exports to Thailand, Indonesia, Philippines, Malaysia, India, Argentina, South Africa, Venezuela, Taiwan and Pakistan TMV’s export products are used for Vios, Yaris, Altis and Hiace, according to the company. The auto-parts export center, which was commissioned in the northern province of Vinh Phuc as the first such facility to be established by an automaker in Viet Nam, outsources contracts to local companies to manufacture auto parts, then labels the products and finally ships them to overseas assembly plants where IMVs are made. The bright future of Vietnam Auto Part industry is also confirmed by KLD Motors America Inc. The company plans to open an assembly plant in Hanoi by the fourth quarter of 2009 to supply Viet Nam Sufat Co. Ltd. with at least 2,000 motors per month. Last week, the parent company, KLD Energy Technologies Inc., closed on a $1 million round of series A financing from a syndicate of angel investors. Also, Austin based KLD Energy, founded in 2007, plans to use the capital to ramp up development of its transmissionless motor system that would be assembled in Viet Nam for Sufat scooters, stated KLD CEO. Later this year KLD is expected to raise an undisclosed amount of series B venture capital to fund the plant, emphasized KLD CEO.

(Source: VNS)