Gotion High-Tech, VinGroup break ground on joint battery factory in Vietnam

Shanghai (Gasgoo)- On Nov. 18, Gotion High-Tech and VinGroup broke ground on their jointly-owned battery factory in Vietnam Ha Tinh Economic Development Zone, according to a post on the Chinese battery maker's WeChat account.

As the first LFP battery factory in Vietnam, the new project is expected for operation at the end of 2023 with a designed annual production capacity of 5GWh for the first phase.

Photo credit: Gotion High-Tech

Covering an area of 210mu (140,000 square meters), the new factory was 51/49 held by Gotion High-Tech and VinES, respectively.

According to Gotion High-Tech's press release, VinES is a member of VinGroup, the largest private conglomerate of Vietnam. It mainly works on power battery production.

“The new factory is located next to VinES' battery module manufacturing factory, and will contribute to the closed-loop LFP battery production in Vietnam, so as to improve the localization rate and production efficiency for VinFast's electric vehicles (EVs), and gain new development opportunities for Vietnam's EV and clean energy industries,” commented Pham Thuy Linh, Chief Executive Officer of VinES.

The globalization strategy of Gotion High-Tech has been continuously implemented since the beginning of this year. In June, the company entered into a strategic cooperation with JEMSE of Argentina to establish a joint venture production line of battery grade lithium carbonate in Jujuy Province of Argentina. In the same month, German Gotion was officially inaugurated, which started the pace of "made in Europe" of Gotion batteries. In September, it signed an agreement with Sumec to co-promote the export business of energy storage products.