Vingroup’s Chairman donates a battery company to VinFast

Vingroup’s Chairman donates a battery company to VinFast

Vingroup’s Chairman donates a battery company to VinFast

Posted: 12 Dec 2023

Hanoi, October 11, 2023 – Vingroup’s Chairman, Mr. Pham Nhat Vuong, announces that he will donate 99.8 percent of VinES Energy Solutions Joint Stock Company’s shares to VinFast. The merger is designed to enhance VinFast’s self-sufficiency in battery technology and its production chain, while increasing its competitive edge in the ever-growing electric vehicle market.

Vingroup’s Chairman donates a battery company to Vinfast

Following the donation, VinES will be merged into VinFast to enhance its self-efficiency in battery technology and leverage resources to increase battery research and development for its vehicles.

VinES is a member company of Vingroup with legal capital of VND 6,500 billion ($270 million). The company specializes in researching, developing, and manufacturing advanced lithium-ion batteries for mobility and energy storage applications. VinES also cooperates with leading global battery technology partners and seeks to become a comprehensive energy solution provider.

Under the terms of the merger, VinFast will acquire all VinES’ intellectual property related to battery cells, battery packs, manufacturing facilities, technology, partnerships, and supplier contracts. This comprehensive acquisition of VinES’ battery technology and modern manufacturing facilities is an important step in completing VinFast’s fully integrated production chain and creates an unparalleled competitive advantage for VinFast in the global electric vehicle market.

Ms. Le Thi Thu Thuy, Vice Chairwoman of Vingroup and Global CEO of VinFast shared: “The acquisition of VinES will help VinFast control our battery technology and supply chain, thus optimizing operating expenses and enriching technology content in our electric vehicles. This is also an important step towards developing and controlling an integrated supply chain as well as comprehensive manufacturing system to further strengthen our competitiveness."

In April 2023, Mr. Pham Nhat Vuong signed an agreement committing him to donate USD 1 billion from his personal assets to VinFast. Vingroup, together with Mr. Vuong, also announced the contribution of a further USD 500 million to VinFast in non-refundable grants as well as a guarantee for a loan of USD 1 billion carrying a maximum tenor of five years to support VinFast’s growth and global expansion plans.

For more information, please visit:

https://www.sec.gov/Archives/edgar/data/0001913510/000119312523253903/d535412d6k.htm

2023 VF e34
Bergabunglah dengan daftar tunggu sekarang
berhubungan
Penafian Hukum
  • Ilustrasi dan penjelasan produk mungkin dapat mencakup peralatan khusus yang bukan bagian dari pengiriman standar. Hal tersebut sesuai dengan status pada saat publikasi. Kami memiliki hak membuat perubahan pada konstruksi dan peralatan. Warna yang ditampilkan hanya merupakan perkiraan dari warna asli. Peralatan khusus ditampilkan dengan biaya tambahan. Jarak tempuh, teknologi, dan peralatan pada kendaraan kami dapat bervariasi. Untuk informasi lanjutan yang lebih tepat mengenai kendaraan kami, hubungi VinFast.
  • Spesifikasi kendaraan dapat bervariasi menurut wilayah.
  • Semua informasi dan ilustrasi didasarkan pada data yang tersedia pada saat publikasi dan dapat berubah tanpa pemberitahuan. Hubungi VinFast untuk informasi terkini.
  • Opsi mungkin berbeda menurut wilayah.
  • Cakupan garansi didasarkan pada waktu atau jarak tempuh, mana yang tercapai lebih dulu.
  • Daftar lengkap cakupan garansi dapat ditemukan dalam Buku Warranty VinFast.
  • Semua nilai yang ditunjukkan adalah nilai awal. Nilai final hanya akan tersedia setelah kendaraan disetujui, yang diperkirakan akan terjadi pada kuartal kedua 2024.