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Vietnam - The Next Battery Manufacturing Hub?

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    FDI in Vietnam – Where is the Investment Going?

    "Fueled by continuous growth,
    Vietnam continues to attract record foreign direct investment (FDI). The latest data from the Foreign Investment Agency (FIA) shows that FDI in Vietnam in the first five months of the year reached a four year high of US$16.74 billion.

    This inflow represents a year-on-year increase of 69.1 percent."
    ...........................

    "Investment has been mainly driven by the US-China trade war.

    Aside from this, Vietnam is committed to an ambitious investment plan to develop overall infrastructure in major industrial poles in the country, which will ease doing business and improve logistics."


    ...........................

    "Meanwhile, a recent report by DBS Bank states that Vietnam’s economy could become bigger than Singapore’s by 2029 if it sustains its growth trajectory. Vietnam’s government expected GDP to expand to at least 6.8 percent this year."
    S.Korea's LG Chem sets up joint venture with Vietnam's VinFast
    "SEOUL, April 7 (Reuters) - South Korea’s LG Chem said on Sunday that it has set up a joint venture with Vietnam’s VinFast Trading and Production to produce lithium-ion batteries for the Vietnamese carmaker’s electric scooters and electric vehicles.
    The two companies established their joint venture factory in the Vietnamese northern port city of Hai Phong, with an aim to produce lithium-ion battery packs for VinFast’s electric scooters that are being made now and electric cars to be produced in the future, the South Korean battery maker said in a statement."
    VinFast car factory ready ahead of schedule
    ByDat Nguyen June 14, 2019 | 01:00 pm GMT+7
    VinFast car factory ready ahead of schedule
    VinFast can churn out 38 cars every hour. Photo by VnExpress/Ngoc Tuan.

    Vietnam’s first fully-fledged domestic car manufacturer VinFast on Friday inaugurated the first phase of its auto plant three months earlier than planned.

    The plant in the northern port city of Hai Phong has a capacity of 250,000 cars and 250,000 electric bikes a year in this phase. The capacity will double when the second phase is finished in 2025.

    The plant, built from scratch in just 21 months, can churn out 38 cars every hour.

    Almost a third of the plant site has been set aside for potential supporting industry partners seeking to put up their own plants. VinFast targets using 60 percent local parts in its cars and 100 percent for electric motorbikes.

    It will deliver the first Fadil cars to customers starting June 17. The Fadil is a small urban crossover utility vehicle (CUV) which will come in six colors. Its sedans and SUVs will be delivered from the end of July.


    The VinFast factory in Hai Phong City can churn out 38 cars every hour.

    The VinFast factory in Hai Phong City.


    "The success of VinFast today is a feat of Vietnam's automobile industry, helping the country reach the global level and affirming that the private sector is an important driving force," Prime Minister Nguyen Xuan Phuc said at the plant's inauguration ceremony.

    He said in the auto industry VinFast is "a big guy next to the giants." Therefore, it needs to partner with domestic automobile manufacturers to increase power.

    "The development is inseparable from supporting industries. All major manufacturers have suppliers. I want VinFast to set a vision for the Vietnamese supporting industry as a pioneer in improving the local supporting industry," the PM said.

    VinFast, a unit of Vietnam’s largest private firm Vingroup, unveiled its first made-in-Vietnam cars in March. It had showed off prototypes of its first two high-end car models at the Paris Motor Show in France last October.

    Vinfast and the Electric Vehicle Market in Vietnam

    Car manufacturingEarly this year VinFast signed a strategic partnership with General Motors (GM). Following thiscooperation agreement, VinFast will obtain GM’s Hanoi plant, dealership network, and employee baseby late 2018. According to LMC Automotive, the facility produced around 7,600 vehicles in 2017 buthas the capacity to produce 30,000 a year. In addition, VinFast will exclusively distribute GM’sChevrolet cars in Vietnam (NIA 2018).VinFast will set up a manufacturing, research, supplier park, and development complex at a greenfieldfactory in the Dinh Vu Economic Zone located in Cat Hai District, Haiphong. The manufacturing plantcomplex comprises 335 hectares and includes a Centre for Product Research & Development,Automobile Manufacturing Plant, Electric Motorcycle Manufacturing Plant, Training Centre andLocalization Area. From now to 2025 – 2030, most R&D is expected to be channeled towards electriccars. VinFast diversified its product scope in an attempt to compete with both mid-high-level pricessuch as Mercedes-Benz, BMW, Audi, Lexus and electric models for lower segments.

    Last edited by Wilma85: 15/06/19
 
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