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Saturday, November 26, 2022

Vingroup to build EV battery plant in Ha Tinh

The Saigon Times

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HCMC – VinES Energy Solutions JSC, a unit of Vingroup, has got the nod from the Ha Tinh government to develop a lithium battery facility at the Vung Ang economic zone, with a total investment of VND6.3 trillion, according to the provincial economic zone management board.

The factory will cover more than 14 hectares and have a designed capacity of 5GWh a year, equivalent to 30 million lithium iron phosphate battery cells for electric vehicles and energy storage systems.

The plant will be put into operation in the first quarter of 2024 and mass production will begin in the third quarter of that year, the local media reported.

In December 2021, VinES Energy Solutions broke ground for the first phase of a battery pack production plant in Ky Loi Commune in Ky Anh Town, with a total cost of VND4 trillion. The construction and installation processes of the plant have been completed.

Established in 2006, the Vung Ang economic zone covers over 22,000 hectares and is home to 151 projects, including 94 domestic ones with total registered capital of VND59.8 trillion and 57 foreign-invested projects with total pledged capital of US$13.5 billion.

Ha Tinh Province aims to develop the economic zone into a multi-functional economic hub with a focus on the metallurgy, energy, logistics and seaport service fields in the coming years.

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