Recently, Guoxuan High Tech and Vietnam Vin Group's battery factory officially started in Ha Tinh Economic Development Zone, Vietnam.

The Vietnam VinES Power Hejing Battery Factory under construction this time is jointly invested by Guoxuan High Tech and VinES under Vietnam Vin Group. Guoxuan High Tech holds 51% of the shares, and VinES holds 49% of the shares. It is the first lithium iron phosphate battery manufacturing factory in Vietnam. According to the plan, the plant covers an area of 210 mu, and the annual production capacity of the project is planned to be 5GWh. It is expected that the construction will be completed and put into operation by the end of 2023.

Vietnam VinES belongs to Vin Group, the largest private enterprise in Vietnam, and is mainly responsible for the production of power batteries. The group's VinFast is a world leading new energy vehicle manufacturer. Its products are widely praised in the Southeast Asian market and exported to Europe and the United States.

Fan Chuiling, general manager of VinES, said that the new plant is located next to the VinES battery pack production plant and will complete the closed-loop production of Vietnam's LFP batteries, so as to improve the localization rate and production efficiency of VinFast electric vehicles, and at the same time open up new opportunities for the development of Vietnam's electric vehicles and clean energy industry.Editor/Ma Xue