Work starts on Vietnam’s first EV battery manufacturing factory
(VOVWORLD) - Construction of the 173 million USD VinES battery manufacturing factory began on Sunday in Vung Ang economic zone in the central province of Ha Tinh.
 President Nguyen Xuan Phuc (C) at the VinES factory's ground breaking ceremony on December 12, 2012. (Photo: Thong Nhat/VNA/VNS) |
President Nguyen Xuan Phuc said at the groundbreaking ceremony that a number of national incentive policies to support the hi-tech industry will be submitted to the upcoming National Assembly session for consideration.
The factory, financed by local conglomerate Vingroup, will provide lithium batteries for VinFast’s electric cars and buses. It is designed to produce 100,000 battery packs per year in the first phase. In the second phase, production will include battery cells and the factory’s capacity will be expanded to one million battery packs per year.
The first and most advanced battery plant in Vietnam equipped with European and American-standard technologies has an automation rate of 80%, said a Vingroup spokesperson.
President Phuc said energy and energy security are the key to every development strategy. He noted that mastering and developing battery technology is a key component to help VinFast quickly realize its strategic goal of becoming a global smart electric vehicle company.