Vietnam’s EV maker VinFast starts building battery factory
Image: Bloomberg
Vietnamese electric vehicle maker VinFast started construction of a battery manufacturing factory in the country that will power its electric cars and buses.
More than 4-trillion dong (roughly R2,786,130,630) will be invested in the first phase, and the factory will have the capacity to produce 100,000 lithium battery packs per year, parent company Vingroup said on Sunday. The plant in the central province of Ha Tinh will be developed over eight hectares.
In the second phase, the factory will expand production to include battery cells and make 1-million battery packs a year, the company said, without elaborating on the timing.
VinFast, which is planning a US factory by the end of 2024, unveiled its two electric SUVs — VF e35 and VF e36 — at the Los Angeles Auto Show in November. It expects to take global preorders for the EVs in the first half of 2022. In the Vietnamese market, the company will deliver its first electric automobiles to domestic customers on December 25.
Bloomberg News
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