VinFast to acquire VinES Energy Solutions to step up its integrated supply and production chain

Following the donation, VinES might be merged into VinFast to boost its self-efficiency in battery expertise and leverage assets to extend battery analysis and growth for its automobiles.

VinES is a member firm of Vingroup with authorized capital of VND 6,500 billion ($270 million). The corporate focuses on researching, growing, and manufacturing superior lithium-ion batteries for mobility and power storage functions. VinES additionally cooperates with main international battery expertise companions and seeks to turn out to be a complete power answer supplier.

Underneath the phrases of the merger, VinFast will purchase all VinES’ mental property associated to battery cells, battery packs, manufacturing amenities, expertise, partnerships, and provider contracts. This complete acquisition of VinES’ battery expertise and fashionable manufacturing amenities is a crucial step in finishing VinFast’s totally built-in manufacturing chain and creates an unparalleled aggressive benefit for VinFast within the international electrical automobile market.

Ms. Le Thi Thu Thuy, Vice Chairwoman of Vingroup and World CEO of VinFast shared: “The acquisition of VinES will assist VinFast management our battery expertise and provide chain, thus optimizing working bills and enriching expertise content material in our electrical automobiles. That is additionally an essential step in the direction of growing and controlling an built-in provide chain in addition to complete manufacturing system to additional strengthen our competitiveness.”