Vietnam’s Vingroup starts construction on $173.7M EV battery manufacturing factory

Vingroup has started the construction of the $173.7 million electric vehicle (EV) battery manufacturing factory in Vietnam. The VinES Battery Manufacturing Factory which is located in the Vung Ang Economic Zone (Ha Tinh), is being developed on 8 hectares in its initial phase. The establishment of this factory represents an important milestone in its EV business VinFast’s strategy of self-production and supply of batteries with global standards for its electric vehicles.