The announcement of the Memorandum of Cooperation between VinFast and Marubeni has been made in the presence of Vietnamese Prime Minister Pham Minh Chinh, within the framework of the Vietnam-Japan Economic Forum and the ASEAN-Japan Partnership Summit celebrating 50 years of partnership, taking place in Tokyo from December 16 to 18, 2023.
Under the agreement, VinFast and Marubeni will collaborate on researching and producing energy storage systems (BESS) from used electric vehicle batteries. VinFast will supply the electric vehicle batteries, while Marubeni will assess feasibility, provide technical consultation, and deploy the installation of the BESS. Both parties will also cooperate to promote business opportunities in the used electric vehicle battery sector, aiming to establish a circular economy model.
Marubeni is expected to apply exclusive technology from strategic partners to repurpose VinFast’s electric vehicle batteries, developing affordable and easily producible BESS without the need for dismantling, processing, and repackaging.
In May 2023, Marubeni Green Power Vietnam, a subsidiary of the Marubeni Corporation, previously signed an agreement with VinES Energy Solutions Joint Stock Company, the manufacturer of electric vehicle batteries and BESS products, owned by VinFast.
By reusing electric vehicle battery sources, VinFast not only creates significant value in the circular economy model but also contributes innovative approaches to promote sustainable transportation development and emission-free economy in Vietnam and the region.
Anh Quan (forum.autodaily.vn)
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