Work starts on Vietnam''s first car battery manufacturing factory

Potential and investment

Work starts on Vietnam''s first car battery manufacturing factory

Monday, December 13, 2021

Construction of VinES battery manufacturing factory costing 4 trillion VND (nearly 173.7 million USD) began on December 12 in central Ha Tinh province's Vung Ang Economic Zone with the presence of President Nguyen Xuan Phuc.

The ground-breaking ceremony for the VinES battery manufacturing factory

Financed by private conglomerate Vingroup, the factory will be developed on 8ha in its initial phase, providing lithium batteries for VinFast’s electric cars and buses.

The entire infrastructure of the factory, including a casting shop, a welding shop, and a packaging (battery pack) shop, is designed to produce 100,000 battery packs per year. The second phase of the factory will expand production to include battery cells manufacturing and upgrade capacity to one million battery packs per year.

At the groundbreaking ceremony, President Phuc spoke highly of Vingroup's operational strategy adjustment, that has shifted from the field of real estate investment and trading to hi-tech and services industries. The timely adjustment also demonstrated Vingroup's significant participation in the process of restructuring and modernising the nation's economy.

The President said the success of Vingroup is gradually becoming an industrial and technological group that would not only create inspiration for other economic groups in Vietnam but also play an important role in creating the "Make-in-Vietnam” eco-system on producing, recycling, and reusing renewable energy batteries.

He added that proactively capturing and developing battery technology was a key component to help VinFast quickly realise its strategic goal of becoming a global smart electric vehicle company. Self battery production would ensure the supply of diverse and suitable batteries for each line of VinFast electric vehicles while better meeting the battery needs of the domestic and international electric vehicle market, contributing to the global electric vehicle revolution.

Nguyen Viet Quang, Vice President cum CEO of Vingroup, said the construction of the factory reflected the company’s efforts to establish a clean energy ecosystem that contributes to the localisation of VinFast’s supply.

"Furthermore, we have been promoting collaboration with many prestigious partners around the world, including firms in the US, Israel, Taiwan, and mainland China, to research, develop and apply cutting-edge battery technologies such as super-fast charging, 100 percent solid-state batteries and highly advanced battery materials," he said.

Chairman of the Ha Tinh People's Committee Vo Trong Hai praised Vingroup's important contributions to the provincial socio-economic development in the past.

NDO

Other news

All inter-commune roads in Van Chan district concretised

The completion of Son Luong - Sung Do - Nam Muoi inter-commune road makes it easier for people to trade goods and foster local socio-economic development.

Residents in Van Chan district donated land to build over 100km of roads in 2023, of which over 96 km were asphalted. To date, all inter-commune roads and over 84% of inter-village roads have been paved.

Yen Bai aims to have 105 new-style rural areas by year-end

This year, Yen Bai province aims to have six additional communes recognised as new-style rural areas, nine advanced new-style rural communes and four model new-style rural areas. The locality is also striving to turn Yen Binh into a new-style rural district.

Yen Bai-based Netma JSC turns by-products into main ones

Experts examine and give advice on wood pellet production technology at the Yen Bai branch of the Netma JSC.

By applying technology, the branch of the Netma joint Stock Company in Vinh Kien commune of Yen Binh district, Yen Bai province, has completely mastered how to turn by-products generated during wood processing into bio pellets – a source of clean fuel for civil and industrial use as well as export.

Yen Bai aims to become attractive destination for investors

Yen Bai aims to lure 60-80 investment projects each year.

A mountainous locality with many difficulties, Yen Bai has defined investment attraction as a key solution to boost the local socio-economic development.

Potential and investment