Vingroup breaks ground on new battery factory
Before ending 2021, Vingroup officially broke ground and started construction on the VinES Battery Manufacturing Factory in the Vung Ang Economic Zone (Ha Tinh) in Vietnam.
The facility is backed by nearly USD 173.7 million in investments and is being developed on eight hectares in its initial phase, a press release reads.
The VinES Battery Manufacturing Factory will provide lithium batteries for VinFast’s electric cars and buses. In Phase One, the entire infrastructure of the factory, including a casting shop, a welding shop, and a packaging (battery pack) shop will be built; designed to produce 100,000 battery packs per year. In Phase Two the company says it will expand production at the factory to include battery cells manufacturing and upgrade its capacity to 1 million battery packs per year.
The company says in the press release that the plant will be equipped with European and American-standard technologies that boast a workflow automation rate of 80%.