VinFast builds electric vehicle battery plant in Vietnam for $174 million
Vietnamese carmaker VinFast has started building a battery cell plant for $174 million to support its electric vehicles business and improve the battery supply chain for its car production, parent company Vingroup, Vietnam’s largest business conglomerate, said on December 12.
VinFast is particularly targeting the US and European markets with its battery-powered sport utility vehicles and has just recently revealed it model line-up at the Los Angeles Auto Show which are expected to make their sales debut next year.
The battery plant is Vietnam’s first electric battery project and located in the north central coastal province of Ha Tinh south of the city of Vinh on eight hectares of land.
The main purpose of the new factory is to establish the company’s own supply chain of batteries and parts, VinFast said.
Full capacity of one million batteries a year
Plans are to produce around 100,000 battery packs per year in a first phase and then upgrade the output to one million annually when the facility runs at full capacity as expected from 2025.
VinFast is working with a variety of partners for battery development, including Israel’s StoreDot, China’s Gotion High-Tech and Taiwan’s ProLogium, and is also setting up research facilities to develop battery and charging technologies on its own, according to Reuters.
VinFast currently has a model range of four gasoline powered vehicles, topped by its limited edition luxury model “President” which is powered by a General Motors-sourced V8 engine, has golden design elements and goes for sale for close to $200,000, as well three electric sport utility vehicles and a line-up of six electric scooters.
[caption id="attachment_37896" align="alignleft" width="300"] VinFast battery charging stations in Hanoi[/caption] Vietnamese carmaker VinFast has started building a battery cell plant for $174 million to support its electric vehicles business and improve the battery supply chain for its car production, parent company Vingroup, Vietnam’s largest business conglomerate, said on December 12. VinFast is particularly targeting the US and European markets with its battery-powered sport utility vehicles and has just recently revealed it model line-up at the Los Angeles Auto Show which are expected to make their sales debut next year. The battery plant is Vietnam's first electric battery project and located...
Vietnamese carmaker VinFast has started building a battery cell plant for $174 million to support its electric vehicles business and improve the battery supply chain for its car production, parent company Vingroup, Vietnam’s largest business conglomerate, said on December 12.
VinFast is particularly targeting the US and European markets with its battery-powered sport utility vehicles and has just recently revealed it model line-up at the Los Angeles Auto Show which are expected to make their sales debut next year.
The battery plant is Vietnam’s first electric battery project and located in the north central coastal province of Ha Tinh south of the city of Vinh on eight hectares of land.
The main purpose of the new factory is to establish the company’s own supply chain of batteries and parts, VinFast said.
Full capacity of one million batteries a year
Plans are to produce around 100,000 battery packs per year in a first phase and then upgrade the output to one million annually when the facility runs at full capacity as expected from 2025.
VinFast is working with a variety of partners for battery development, including Israel’s StoreDot, China’s Gotion High-Tech and Taiwan’s ProLogium, and is also setting up research facilities to develop battery and charging technologies on its own, according to Reuters.
VinFast currently has a model range of four gasoline powered vehicles, topped by its limited edition luxury model “President” which is powered by a General Motors-sourced V8 engine, has golden design elements and goes for sale for close to $200,000, as well three electric sport utility vehicles and a line-up of six electric scooters.
