VinFast & Japan's Marubeni Announce Collaboration to Repurpose EV Batteries

VinFast and Marubeni Corporation, a Japanese trading and investment conglomerate, have signed a Memorandum of Understanding (MOU) to explore opportunities in the secondary use of electric vehicle (EV) batteries. VinFast and Marubeni will collaborate on researching and manufacturing Battery Energy Storage Systems (BESS), with VinFast supplying used electric vehicle batteries and Marubeni conducting feasibility assessments and technical consulting.

Both companies will also work closely together to promote business opportunities in the field of recycled EV batteries, with the aim to establish a circular economic model.

Marubeni is expected to leverage exclusive technology from its strategic partner to recycle VinFasts EV batteries, repurposing them into affordable and easily manufacturable BESS without the need for disassembly, processing and repackaging of the batteries.

By repurposing EV batteries, VinFast expects aims to promote an innovative approach to enable sustainable transportation development and emissions-free economic growth in Vietnam and globally

In May 2023, Marubeni Green Power Vietnam Co., Ltd., a subsidiary of the Marubeni Corporation, signed an agreement with VinES Energy Solution Joint Stock Company, a subsidiary of VinFast and a manufacturer of EV batteries and BESS products..

Mr. Pham Nhat Quan Anh, Deputy CEO of VinFast Manufacturing Division, says: “We are delighted to collaborate with Marubeni to jointly research and implement clean energy and innovative energy storage solutions. This signing marks a significant step in VinFasts strategy to establish a circular economy model and further reduce the environmental footprint of our manufacturing activities. Optimizing the lifecycle of electric vehicle batteries not only enhances access to smart electric mobility but also fosters a green and sustainable future for all.”

Mr. Satoru Harada, Executive Officer, Chief Operating Officer of Power Division of Marubeni, adds: “Marubeni’s values of ‘Fairness, Innovation, and Harmony’ align with VinFasts innovative direction towards reducing emissions and building a green future. Leveraging our strengths and extensive experience in implementing large-scale energy projects across the global value chain, including battery recycling technologies, Marubeni expects to further enhance the strategic cooperation with VinFast to develop solutions that contribute to building a circular economy and promoting climate change mitigation policies.”

Established in 2017, VinFast owns an automotive manufacturing complex that boasts up to 90 percent automation in Hai Phong, Vietnam.