VinFast to acquire VinES Energy Solutions to step up its integrated supply and production chain
–News Direct–
HANOI, VIETNAM – Media OutReach – 11 October 2023 Vingroups Chairman, Mr. Pham Nhat Vuong, announces that he will donate 99.8 percent of VinES Energy Solutions Joint Stock Companys shares to VinFast. The merger is designed to enhance VinFasts self-sufficiency in battery technology and its production chain, while increasing its competitive edge in the ever-growing electric vehicle market.
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 VND6,500 billion ($270 million). The company specializes in researching, developing, and manufacturing advanced lithium-ion batteries...