With a high level of automation and a cutting-edge, optimized production process, the joint venture LFP battery cell factory will fulfill the needs of VinFast's electric vehicles (EVs) that require LFP batteries and ESS products developed by VinES. In the later phase, VinES and Gotion will research and expand the project according to the market's development opportunities and potential.

At the Groundbreaking ceremony, Ms. Pham Thuy Linh – CEO of VinES – said: The LFP battery cell factory is a joint venture with our partner – Gotion. It is an essential component in creating battery supply autonomy for VinFast EVs and VinES's development goal to become the preeminent energy solutions company. Located next to the VinES battery pack manufacturing in the Vung Ang Economic Zone, this new factory will complete the closed loop production of LFP Batteries in Vietnam, thereby improving localization for VinFast's EVs and optimizing production efficiency. In addition, the factory will also open up new development opportunities for the Vietnamese EV and clean energy industry."

Mr. Li Zhen, Chairman of Gotion High-Tech, said: "Vingroup is a highly respected enterprise in the world. We are very honored to cooperate with VinES of Vingroup, to build the factory and contribute to the energy revolution, climate friendly and economic development of Vietnam. The VinES Gotion Ha Tinh Battery factory is an integral part of Gotion's globalization strategy and the first LFP battery factory in Vietnam. I firmly believe that the battery factory will boost the development of Vietnam's new energy industry with the cooperation of both sides, and jointly contribute to the energy revolution and climate friendliness of human society."

The facility will be the first LFP battery plant in Vietnam and will begin mass production in the third quarter of 2024 and is expected to create approximately 500 new jobs for the local community. This is an important part in Vingroup's "3-prong" battery strategy: (1) Buying batteries from the world's best manufacturers, (2) Cooperating with partners to produce the world's best batteries and (3) In-house battery production research and development.

In December 2021, VinES started constructing a battery manufacturing and packaging factory with a scale of 8 hectares (20 acres) in the first phase, and a total investment of VND 4,000 billion. After 11 months of construction, the factory is in the final stages of completion and will begin operations in December 2022, producing Lithium batteries for VinFast electric vehicles and e-buses.

Hashtag: #Vingroup #VinES

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References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} VinES Energy Solutions Joint Stock Company (vines.net.vn)