HaTinh (VNA) - Construction of VinES battery manufacturingfactory costing 4 trillion VND (nearly 173.7 million USD) began on December 12in central Ha Tinh province's Vung Ang Economic Zone with the presence ofPresident Nguyen Xuan Phuc. 

Financedby private conglomerate Vingroup, the factory will be developed on8ha in its initial phase, providing lithium batteries for VinFast’selectric cars and buses.

Theentire infrastructure of the factory, including a casting shop, a welding shop,and a packaging (battery pack) shop, is designed to produce 100,000 batterypacks per year. The second phase of the factory will expand production toinclude battery cells manufacturing and upgrade capacity to one millionbattery packs per year.

Atthe groundbreaking ceremony, President Phuc spoke highly ofVingroup's operational strategy adjustment, that has shifted from thefield of real estate investment and trading to hi-tech and servicesindustries. The timely adjustment also demonstrated Vingroup'ssignificant participation in the process of restructuring and modernisingthe nation's economy. 

ThePresident said the success of Vingroup is gradually becoming an industrial andtechnological group that would not only create inspiration for othereconomic groups in Vietnam but also play an important role in creatingthe “Make-in-Vietnam” eco-system on producing, recycling, andreusing renewable energy batteries.

Headded that proactively capturing and developing battery technologywas a key component to help VinFast quickly realise its strategic goal ofbecoming a global smart electric vehicle company. Self battery productionwould ensure the supply of diverse and suitable batteries for each line ofVinFast electric vehicles while better meeting the battery needs of thedomestic and international electric vehicle market, contributing to the globalelectric vehicle revolution. 

NguyenViet Quang, Vice President cum CEO of Vingroup, said the constructionof the factory reflected the company’s efforts to establish a cleanenergy ecosystem that contributes to the localisation of VinFast’s supply.

"Furthermore,we have been promoting collaboration with many prestigious partners around theworld, including firms in the US, Israel, Taiwan, and mainland China, toresearch, develop and apply cutting-edge battery technologies such assuper-fast charging, 100 percent solid-state batteries and highly advancedbattery materials," he said. 

Chairmanof the Ha Tinh People's Committee Vo Trong Hai praised Vingroup'simportant contributions to the provincial socio-economic development in thepast./.