VinFast company will merge with VinES company to proactively advance technology and concentrate resources in enhancing research and development of batteries for VinFast’s electric car models.
VinES is a subsidiary of the Vingroup ecosystem with a total registered capital investment of 6,500 billion VND. The company operates in the research, development, and production of high-quality lithium-ion batteries for electric vehicles, energy storage systems, and other applications. Additionally, VinES collaborates with leading battery technology partners worldwide to become a comprehensive energy solutions provider.
After the merger, VinFast will gain all patent rights for battery cells, battery packs, factories, technology, partnerships, and contracts with VinES suppliers. Acquiring VinES’s battery technology and modern battery production plants is a significant milestone in bolstering VinFast’s production capacity and creating a competitive advantage in the global electric vehicle market.
Ms. Le Thi Thu Thuy, Vice Chairman of Vingroup and Global CEO of VinFast, commented: “The merger of VinES into VinFast enables us to take the lead in battery technology and supply for electric vehicles, optimize costs, and increase the technological content in VinFast cars. This is also an important step in developing and controlling the integrated supply chain and production line, further enhancing VinFast’s competitive strength in electric cars.“
Earlier, in late April 2023, Mr. Pham Nhat Vuong announced a $1 billion donation to VinFast from his personal assets. Alongside Mr. Vuong, the Vingroup corporation, founded by him, also pledged a non-refundable sponsorship of $500 million and a $1 billion loan for a maximum period of 5 years to boost resources for VinFast’s global-scale growth targets.
Anh Quan (forum.autodaily.vn)
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