Vingroup, Gotion start building $275 million battery plant in Vietnam
VinES Energy Solutions, a unit of Vietnam’s largest conglomerate Vingroup JSC and China’s Gotion High-Tech , have commenced construction of a $275 million battery factory in the Southeast Asian country, Vingroup said.
The factory in the central province of Ha Tinh will annually produce 30 million lithium iron phosphate (LFP) battery cells, the company said in a statement.
The cells will be used for electric vehicle batteries and energy storage systems, it said, adding that the factory is scheduled to start production in the third quarter of next year.
