VinFast Begins Construction on EV Battery Manufacturing Factory in Vietnam

VinFast has officially started the construction of the VinES Battery Manufacturing Factory in the Vung Ang Economic Zone in Vietnam. The facility is backed by nearly 173.7 million USD in investments, and is being developed on 8 hectares in its initial phase.

The establishment of this factory represents an important milestone in VinFast’s strategy of self-production and supply of batteries with global standards for its electric vehicles (EVs).

The VinES Battery Manufacturing Factory will provide Lithium batteries for VinFast’s electric cars and buses.

Phase two of the factory will expand production to include battery cells manufacturing and upgrade capacity to 1 million battery packs per year.

VinFast introduced two electric car models, the VF e35 and VF e36, at the Los Angeles Auto Show in November, 2021.

Speaking at the ground-breaking ceremony, Mr. Nguyen Viet Quang, Vice President & CEO of Vingroup, says: “The research and construction of this battery manufacturing factory in the Vung Ang Economic Zone reflect our efforts to establish a clean energy ecosystem that contributes to the localization of VinFast’s supply. Furthermore, we have been promoting collaboration with many prestigious partners around the world, including firms in the US, Israel, Taiwan, China and more, to research, develop and apply cutting-edge battery technologies such as super-fast charging, 100% solid-state batteries and highly advanced battery materials.”

Ms. Thai Thi Thanh Hai, Vice Chairwoman of  Vingroup and Vice-Chair of Board of Members of VinFast, adds: “This is in the focus of VinFast’s localization strategy of supply. The strategy enables us to own our supply chain of batteries and parts and to keep VinFast at the forefront of battery technology innovation. This, in turn, helps us provide high-quality products at reasonable  prices and drive the movement of the global smart electric vehicle revolution.”

In July 2021, VinFast started expanding to the North American and European markets. Two of its smart electric SUV models – VF e35 and VF e36, are expected to be available for pre-orders globally in the first half of 2022. 

VinFast is owned by Vingroup, one of the leading private conglomerates in the region, with a total capitalisation of 35 billion USD.