VinES starts construction of LFP battery factory with 6,300+ billion VND investment

21 Nov 2022

On the morning of November 18, 2022, VinES Energy Solutions Joint Stock Company (a member of Vingroup) and Gotion Company, Inc. (member of Gotion High-Tech) just broke ground on the LFP rechargeable battery cell factory project in Vung Ang Economic Zone (Ha Tinh).

The project has a total investment of nearly 6.330 billion VND (275 million USD), a scale of 14 hectares with output capacity of 5 GWh/year, equivalent to about 30 million battery cells/year.

The joint venture factory project to produce LFP battery cells invested by VinES and Gotion is located at Lot CN4-5, Vung Ang Economic Zone, Ha Tinh province. The factory’s product is an LFP (Lithium Iron Phosphate) rechargeable battery cell mainly used for electric car batteries and energy storage systems (ESS).

With a high degree of automation, modernity, and optimized production process, the LFP rechargeable battery cell joint-venture factory when completed will ensure to provide the necessary amount of battery cells for battery-powered electric cars. VinFast’s LFP and power storage products are developed by VinES. In the next phase, VinES and Gotion will continue to research and expand the project in accordance with the development needs and potential of the market.

Vingroup Vice President and General Director Nguyen Viet Quang affirmed that the VinES-Gotion battery joint venture factory is an important component in the strategy of battery autonomy for VinFast electric vehicles.

Speaking at the Groundbreaking Ceremony, Ms. Pham Thuy Linh – General Director of VinES said that the cooperation with Gotion is an important component in the strategy of autonomy in battery supply for VinFast electric vehicles, as well as in VinES’ strategy to develop into a leading energy solution company.

Located right next to VinES battery pack factory in Vung Ang Economic Zone, this new factory will complete the closed production cycle of LFP batteries in Vietnam, thereby increasing the localization rate on electric vehicles. VinFast, helping to optimize production efficiency, and at the same time open new development opportunities for Vietnam’s electric vehicle and clean energy industries.

Mr. Li Zhen – President of Gotion High-Tech hopes that this cooperation project will promote the development of the new energy industry in Vietnam and contribute to the sustainable energy revolution, for a better future. green hybrid for everyone.

VinES-Gotion Ha Tinh battery factory is an integral part of Gotion’s global strategy and is the first LFP battery factory in Vietnam.

It is expected that the factory will start mass production from the third quarter of 2024 and become the first LFP battery factory in Vietnam, contributing to creating hundreds of new jobs for local people. This is also an important step in the “3 tripod” strategy to ensure the battery supply of Vingroup, including Buying batteries from the world’s best manufacturers; Cooperate with partners to produce the world’s best batteries; and Self-research, development, and production of batteries.

Previously, in December 2021, VinES started construction of a battery pack manufacturing and packaging factory with a scale of 8 hectares in phase 1, a capacity of 100,000 battery packs/year, with a total investment of more than VND 4,000 billion. After 11 months of building and installing equipment, the factory is currently in the final stages of completion before officially going into operation from December 2022, providing Lithium batteries for electric cars and buses.



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