Vingroup Starts Work On US$174 Million EV Battery Manufacturing Plant

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Vingroup, Vietnam’s largest conglomerate, said on Sunday (12 December 2021) that it had officially begun the construction of the VinES Battery Manufacturing Factory in Ha Tinh, a province on the North Central Coast of Vietnam. The facility is backed by VND 4,000 billion (US$174 million) in investments and is being developed on 8 hectares in its initial phase. 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.

Vingroup is also working with strategic partners leading globally in pioneering technologies for the production of electric vehicle batteries. This includes Israel’s StoreDot, Taiwan’s ProLogium, and China’s Gotion High-Tech to produce the world’s best batteries and conduct in-house research and development for battery production. This first and most advanced battery plant in Vietnam will be equipped with European and American-standard technologies that boast an astounding workflow automation rate of 80 percent.

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Mr. Nguyen Viet Quang, vice president and CEO of Vingroup said, “The research and construction of this battery manufacturing factory in the Vung Ang Economic Zone reflect our 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, China, and more, to research, develop and apply cutting-edge battery technologies such as super-fast charging, 100 percent solid-state batteries, and highly advanced battery materials.”

The construction of the VinES Battery Manufacturing Factory will enable the company to provide a wide range of batteries that are suitable for each of its electric vehicle lines and fulfill growing demands in the Vietnamese and global markets. The importance of this battery factory in VinFast’s global expansion plan is especially significant given its recent introduction of two electric car models, the VF e35 and VF e36, at the Los Angeles Auto Show last November.

According to Ms. Thai Thi Thanh Hai, vice chairwoman of  Vingroup and vice-chair of board of members of VinFast, “This is in the focus of VinFast’s localisation strategy of supply. The strategy enables us to own our supply chain of batteries and parts and to keep VinFast at the forefront of battery technology innovation. This, in turn, helps us provide high-quality products at reasonable prices and drive the movement of the global smart electric vehicle revolution.”

Once operational, the project is expected to attract thousands of domestic and foreign workers and accelerate industrial production in Ha Tinh Province.

The company also announced plans for its second phase to expand production to include battery cells manufacturing and upgrade capacity to 1 million battery packs per year.

Speaking at the ceremony of VinES Battery Manufacturing Factory, Vietnamese President Nguyen Xuan Phuc congratulated VinGroup and shared the conglomerate’s new vision in making a timely switch in its investment strategy from real estate to industry, service, and especially advanced technology, with VinFast automobile manufacturing complex, smartphone production and now a new battery factory.

President Nguyen Xuan Phuc said, “With its proactiveness in acquiring and developing technologies to produce battery – a key component of EV, VinFast will quickly realise its goal of becoming a global smart electric vehicle company. Being able to self-produce and supply will enable VinFast to provide a wide range of batteries that are suitable for each of its electric vehicle lines, fulfill growing demands in the Vietnamese and global markets and contribute to the global EV revolution.”

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