Guoxuan High-tech and VinES cooperate to start construction of Vietnam's first LFP battery factory

On November 18, the battery factory jointly built by Gotion High-tech and Vietnam VinGroup officially started construction in Vietnam's Ha Tinh Economic Development Zone. The first phase of the project has an annual production capacity of 5GWh and is Vietnam's first lithium iron phosphate battery factory. It is expected to be put into production at the end of 2023. Mr. Huang Zhongyong, Secretary of the Ha Tinh Provincial Party Committee, Chen Shiyong, Executive Deputy Secretary of the Provincial Party Committee, Mr. Wu Zhonghai, Chairman of the Provincial People's Committee, Mr. Nguyen Viet Quang, Vice Chairman and General Manager of VinGroup, Mr. Li Zhen, Chairman of Gotion High-tech, and Ms. Fan Chuiling, General Manager of VinES, witnessed the ceremony.

The VinES-Gotion Ha Tinh Battery Factory in Vietnam, which started construction this time, is jointly invested by Gotion High-tech and VinES under the Vietnamese VinGroup Group. Gotion High-tech holds 51% of the shares and VinES holds 49%. It is the first lithium iron phosphate battery manufacturing plant in Vietnam. According to the plan, the factory covers an area of ​​210 acres, with an annual production capacity of 5GWh. It is expected to be completed and put into production by the end of 2023. In the future, the products of the factory will meet the battery needs of Vietnam's VinFast new energy vehicles.

Vietnam VinES is affiliated to VinGroup, the largest private enterprise in Vietnam, and is mainly responsible for the production of power batteries. VinFast, a subsidiary of the group, is a world-leading new energy vehicle manufacturer, and its products are widely praised in the Southeast Asian market and exported to Europe and the United States.