# Baotou INST Magnetic plans rare earth magnet plant in Vietnam

China's Baotou INST Magnetic plans to open a factory in Vietnam for rare earth magnet production, as part of a trend of companies shifting assembly lines to Vietnam.

- Type: New facility
- Announced: 2023-08-22
- Where: Vietnam, Vietnam
- Status: announced
- Products: rare earth magnets
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Baotou INST Magnetic](https://endata.com/companies/72173.md)

## Sources

- [asiafinancial.com](https://www.asiafinancial.com/rare-earth-magnet-firms-plan-vietnam-plants-as-china-hedge), 2023-08-22: "Korean and Chinese companies that make magnets from rare earths are preparing to open factories in Vietnam."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.