Vinfast to build a new battery plant

In case you were not aware, there is a new brand of electric cars heading your way. Indeed, VinFast, a Vietnamese full fledge auto manufacturers since 2019, is destined for the Canadian market very soon with already two models suggested, VFe35 and VFe36. Yet, as the demand risks being great, VinFast has recently announced it was building a new plant to manufacture batteries for its cars and buses. The facility is backed by VND 4,000 billion (nearly 173.7 million USD or approximately $ 224.4 million CAD) in investments and is being developed on 8 hectares in its initial phase in Viet Nam. The establishment of this factory represents an important milestone in VinFast’s strategy of self-production and supply of batteries with global standards for its electric vehicles.

(Photo Vinfast)