VinFast battery charging station in Hanoi Vingroup, the parent company of Vietnam’s largest business group, said on December 12 that Vietnamese automaker VinFast has begun to spend US$174 million to build a battery factory to support its electric vehicle business and improve its battery supply chain for car production. VinFast specifically targets the battery-powered sports utility vehicles in the US and Europe. It has just announced its model lineup at the Los Angeles Auto Show and is expected to debut next year. The battery factory is the first electric battery project in Vietnam, located in…
Vingroup, the parent company of Vietnam’s largest commercial group, stated on December 12 that Vietnamese automaker VinFast has begun to spend US$174 million to build a battery factory to support its electric vehicle business and improve its battery supply chain for car production.
VinFast has launched its battery-powered sports utility vehicle specifically for the US and European markets, and has just launched it recently disclose Its model lineup at the Los Angeles Auto Show is expected to debut next year.
The battery plant is the first battery project in Vietnam. It is located south of Ha Tinh City, a coastal province in the north-central coastal province, covering an area of 8 hectares.
VinFast said that the main purpose of the new plant is to establish the company’s own battery and parts supply chain.
1 million batteries per year
It is planned to produce approximately 100,000 battery packs per year in the first phase, and then increase production to 1 million battery packs per year when the plant is operating at full capacity in 2025 as expected.
It is understood that VinFast is cooperating with various battery development partners including StoreDot in Israel, Gotion High-Tech in China and ProLogium in Taiwan, and is also establishing research institutions to develop battery and charging technology on its own. Reuters.
VinFast currently has four gasoline-powered models, of which the limited edition luxury model “President” is equipped with a V8 engine purchased by General Motors, with golden design elements, and the price is close to 200,000 US dollars, as well as three electric sports utility vehicles and six electric skateboards The lineup of cars.
