Asia Tech Wire (July 15) -- Chinese battery maker Sunwoda (300207.SZ) plans to build a battery factory in Vietnam for up to 2 billion yuan ($275 million).

Sunwoda Electronic Co Ltd announced Monday that it plans to set up a Vietnamese subsidiary through its affiliate, Hong Kong Xinwei Electronic Co., Ltd.

The company plans to use its own capital to build a consumer lithium battery factory project in Vietnam with a total investment of up to 2 billion yuan.

Sunwoda said it will conduct production of consumer cells, SiPs and batteries at the site.