Hanoi - On 16 May 2023, the Government of Australian through its Australian Climate Finance Partnership (“ACFP”), administered by the Asian Development Bank (“ADB”), is granting a Technical Assistance package to VinES Energy Solutions JSC (“VinES”). The package aims to support the study towards promoting the growth of lithium ion battery technology and sustainable production of batteries for electric vehicle in Viet Nam as well as job creation opportunities along the supply chain.
The Technical Assistance package is a part of the Asian Development Bank (“ADB”)’s and the Government of Australia’s strategic support for Viet Nam’s transition to a low-carbon economy. Accordingly, VinES will be granted with USD 500,000 from Australian Department of Foreign Affairs and Trade to help Viet Nam achieve its net-zero transition goals by 2050.
ADB and the Government of Australia, as a part of the Australian Climate Finance Partnership (“ACFP”), with VinES Energy Solutions Joint Stock Company (“VinES”), are conducting a study to propose solutions to such topics of: (i) developing sustainable and diversified supply chains for production of batteries in Viet Nam aligned with anticipated demand from domestic EV manufactures for such batteries; (ii) identifying best practices for environmentally responsible repurposing/recycling of EV used batteries; and (iii) mapping opportunities for job creation and upskilling of workers along the supply chain for EVs.
“We very much appreciate this meaningful support from Australian Government and ADB to VinES as a contribution to sustainable energy future through understanding and tackling ongoing challenges to the lithium ion battery technology. The Technical Assistance also reflects the recognition of our efforts to become a global green energy solutions provider in e-mobility and clean energy sectors, contributing to Viet Nam’s transition to a low carbon economy” said VinES CEO, Ms. Pham Thuy Linh.
As lithium ion batteries play an increasingly critical enabling role in EV and renewable energy industries, the study and development of battery supply chain and repurposing/recycling will create a profound momentum for further growing lithium ion battery technology. The study will also help identify job creation opportunities along the supply chain, with special attention paid to considerations of worker’s gender and disability status.
The Technical Assistance package firmly validates VinES’s commitments to the clean energy future and its technical capabilities, as well as contributing into driving positive impacts on developing sustainable energy sector and low carbon mobility in Viet Nam.
Previously, the Government of Australia has invested USD 50 million to VinFast and ADB has provided USD 950,000 Technical Assistance to VinFast in June 2022 to promote e-mobility in Viet Nam.
VinES Energy Solutions, a member of Vingroup, specializes in researching, developing, and manufacturing advanced lithium ion batteries for mobility and energy storage applications. Its battery cell, module and pack R&D and manufacturing capabilities ensure the delivery of advanced battery that meet the safety and quality standards required for EV/ESS and other energy application applications. In addition, VinES has established partnerships with some of the world’s leading battery technology companies to provide full coverage as a transformative energy solution provider. For more information, visit https://vines.net.vn/ .