On December 18, 2023, VinFast and Marubeni Group officially announced a Memorandum of Understanding (MOU) for their collaboration in the reuse of electric vehicle batteries to develop a circular economy.
This MOU is an important milestone in the strategic partnership between VinFast and Marubeni. It also makes a significant contribution to Vietnam’s and the world’s efforts in reducing greenhouse gas emissions.
The announcement of this cooperation was made in the presence of Vietnamese Prime Minister Pham Minh Chinh during the Vietnam-Japan Economic Forum and the ASEAN-Japan high-level conference. These events took place in Tokyo from December 16 to 18, 2023, to commemorate the 50th anniversary of ASEAN-Japan partnership.
Representatives of VinFast and Marubeni at the MOU signing ceremony
Under this agreement, VinFast and Marubeni will collaborate on research and production of energy storage systems (BESS) using used electric vehicle batteries. VinFast will supply the electric vehicle batteries, while Marubeni will provide feasibility assessment, technical consulting, and BESS deployment. The two parties will also work together to explore business opportunities in the used electric vehicle battery sector, with the aim of establishing a circular economic model.
Marubeni will leverage exclusive technology from its strategic partners to reuse VinFast electric vehicle batteries, enabling the production of affordable and easily scalable BESS without the need for dismantling, processing, or repackaging of the batteries.
Mr. Pham Nhat Quan Anh, Deputy General Director of VinFast Manufacturing Division, commented: “VinFast is thrilled to partner with Marubeni in research and implementation of clean energy and intelligent energy storage solutions. The MOU with Marubeni marks an important step in VinFast’s circular economy strategy. By maximizing the value of electric vehicle batteries throughout their lifecycle, we not only facilitate smart electrification but also contribute to a greener future for all.”
Representatives of VinFast and Marubeni announcing the MOU at the Vietnam-Japan Economic Forum
Mr. Satoru Harada, Operation Director of Marubeni Group, stated: “Marubeni, with its core values of Fairness, Innovation, and Harmony, shares VinFast’s vision and breakthrough approaches in emission reduction and building a greener future. Leveraging our strengths and extensive experience in deploying large-scale energy projects across the global value chain, including battery recycling technologies, Marubeni expects to strengthen its strategic cooperation with VinFast, an esteemed leading enterprise in Vietnam, to develop solutions that contribute to circular economy establishment and climate change policies.”
In May 2023, Marubeni Green Power Vietnam Co., Ltd., a subsidiary of Marubeni Group, signed an agreement with VinES Energy Solutions Joint Stock Company, the manufacturer of electric vehicle batteries and BESS products, owned by VinFast.
Through the reuse of electric vehicle batteries, VinFast not only creates significant value in the circular economic model but also promotes sustainable transportation and an emissions-free economy in Vietnam and the region.
TH (Tuoitrethudo)
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