LS Electric Targets ASEAN Dominance with New Vietnam Facility

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LS Electric Powers Growth in Vietnam with Expanded Bac Ninh Production Facility

Archyde News Desk | October 27, 2023

LS Electric‘s strategic investment in its Bac Ninh, Vietnam facility is yielding significant results, with the company reporting over $100 million in sales for the first time last year.

This milestone was largely propelled by the increased production capacity of its state-of-the-art plant,which began operations in October 2022.

The Bac Ninh factory, spanning 30,000 square meters, replaced an older facility in Hanoi, a move necessitated by surging global and local demand for LS electric’s low-voltage switchgears and othre electrical equipment.

The company is bullish on the factory’s future, with plans already underway to construct an additional production line on adjacent land, indicating a commitment to further capitalize on market opportunities.

LS Electric has set an enterprising sales target of $300 million, underscoring its confidence in Vietnam’s role as a key manufacturing hub for its international operations.

This expansion not only benefits LS Electric but also signals a growing trend of global firms establishing and expanding their production capabilities in Vietnam, drawn by its strategic location and growing economic landscape.

the Bac Ninh plant’s success serves as a testament to LS Electric’s foresight in anticipating and adapting to evolving market needs for essential electrical components.

The strategic location of Bac Ninh, approximately 30 kilometers northeast of Hanoi, positions LS Electric advantageously for both domestic distribution and international export. This allows the company to efficiently serve its diverse clientele, ranging from local Vietnamese businesses to multinational corporations operating within or seeking to enter the region.

LS Electric’s commitment to expanding its manufacturing footprint in Vietnam reflects a broader global trend. As supply chains diversify and companies seek robust production bases, Vietnam has emerged as a highly attractive destination due to its favorable economic policies, skilled workforce, and strategic geographical advantages. LS Electric’s proactive approach in scaling up its operations in Bac Ninh demonstrates a keen understanding of these market dynamics.

frequently Asked Questions About LS Electric’s Bac Ninh Expansion

What is LS Electric’s primary overseas production base?

LS Electric’s primary overseas production base is located in Bac Ninh, Vietnam.

When was LS Electric’s Bac Ninh factory completed?

LS Electric completed construction of its Bac Ninh factory in October 2022.

What type of products does the Bac Ninh factory produce?

The Bac ninh factory produces switchgears and other electric equipment.

What was LS Electric Vietnam’s sales figure last year?

LS Electric Vietnam achieved landmark sales of over $100 million last year.

What are LS Electric’s future plans for the Bac Ninh facility?

LS Electric plans to build another production line on an unused piece of land nearby.

What is LS Electric’s sales target for the Bac Ninh operations?

LS Electric has set a sales target of $300 million.

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