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Wednesday, July 24, 2024

Work starts on Vietnam’s first EV battery factory

The Saigon Times

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HCMC – Vingroup has begun work on the VND4-trillion first phase of what is the country’s first electric vehicle battery manufacturing factory in the Vung Ang Economic Zone in Ha Tinh Province.

The VinES project, covering eight hectares of land in phase one, is expected to create thousands of jobs for locals and promote industrial manufacturing in the central province of Ha Tinh, the local media reported.

The factory will supply lithium batteries for electric cars and buses made by VinFast, an automotive arm of Vingroup.

The factory, including a casting shop, a welding shop and a packaging shop, will be able to turn out 100,000 battery packs per year. In the second phase, it will be expanded to produce battery cells and its capacity will be raised to one million battery packs per year.

The EV battery factory will be equipped with European and American-standard technologies with an automation rate of over 80%. Vingroup is also working with strategic partners, including the world’s leading companies in pioneering technologies to produce EV batteries.

Speaking at the groundbreaking ceremony, State President Nguyen Xuan Phuc spoke highly of Vingroup’s strategy adjustment, shifting from real estate to the industry and service sectors, especially hi-tech. The shift demonstrates Vingroup’s worthwhile involvement in the process of restructuring and modernizing the Vietnamese economy. In the coming decades, energy and energy security will be important for all development strategies.

Nguyen Viet Quang, vice chairman and CEO of Vingroup, said the construction of the factory reflected VinFast’s efforts to establish a clean energy ecosystem, contributing to the localization of its supply.

The company has been promoting cooperation with many prestigious partners globally, including those in the United States, Israel, Taiwan and China, to research, develop and apply advanced technologies such as super-fast charging and completely solid batteries.

The development of the VinES auto battery factory is part of Vingroup’s battery strategy, including procuring batteries from the world’s top manufacturers, cooperating with partners to produce the world’s best batteries and researching and producing batteries.

In August, VinFast signed a memorandum of understanding with China’s Gotion High-Tech Co., Ltd, a leading firm in clean energy in the world, to research and develop lithium iron phosphate (LFP) batteries for electric vehicles (EV).

VinFast recently launched its global electric vehicle (EV) brand and unveiled two electric SUV models, VF e35 and VF e36, at the 2021 Los Angeles Auto Show in the United States.

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