Gotion High-Tech and Vietnam VinGroup have announced the official opening of their new joint venture battery factory in Vietnam Ha Tinh Economic Development Zone. The project is expected to achieve an annual production capacity of 5GWh which is expected to be in operation by the end of 2023. This will be the first LFP battery factory in Vietnam.
The factory was jointly invested in by Gotion High-Tech and VinES. Gotion High-tech holds 51% of the shares and VinES holds 49%. According to the plan, The project has a scale of 14 hectares with a design capacity of 5GWh/year and is expected to be completed and put into operation by the end of 2023. To meet the demand of LFP batteries for VinFast new energy vehicle batteries, says the press release.
Li Zhen, Chairman of Gotion High-Tech, said: “VinGroup is the most respectable enterprise in Vietnam. The battery factory jointly built by Gotion High-tech and VinGroup will support the battery needs of VinFast’s electric vehicles. It will not only contribute to the energy revolution, climate friendly and economic development of Vietnam, but also contribute to the energy civilization of human society.”
Back in June, the company reached a strategic cooperation with JEMSE of Argentina to establish a joint venture production line of battery grade lithium carbonate in Jujuy Province of Argentina. Additionally, German Gotion officially unveiled, which started the pace of “made in Europe of Gotion batteries, says the company.
Furthermore, in July, the company’s General Depositary Receipts rang the bell on the SIX Swiss exchange. It also, in September, signed a strategic cooperation agreement with Sumec to promote the export business of energy storage products.
The company’s plan aims for it to achieve 300GWh annual production capacity of global production capacity by 2025, including 100GW overseas, to help achieve global carbon neutrality.