Gotion to invest in lithium battery plant in Ha Tinh

Ha Tinh Economic Zone Management Authority and Gotion representatives discuss investment plans. Source: Ha Tinh Economic Zone Management Authority

Representatives from Gotion sat down with Ha Tinh Economic Zone Management Authority in late October to discuss plans to develop the lithium-battery plant. The project will optimise the usage of renewable energy and provide stable electricity solutions.

The management authority will push for the approval of administrative procedures for the investor to implement the project.

Gotion is a partner of VinES Energy Solutions Corporation, a comprehensive energy solutions provider under Vingroup, in a joint venture to manufacture lithium batteries within Vung Ang Economic Zone in Ha Tinh province, with the project representing a substantial investment of $275 million. The designed production capacity of the plant is 5GWh per annum.

Gotion, a subsidiary of Hefei Guoxuan High-Tech Power Energy, is a major battery manufacturer in China. The company specialises in designing energy solutions to innovate and create the next generation of battery technologies.

Headquartered in Silicon Valley, California, Gotion maintains research and development centres in the United States, China, Japan, Singapore, and Europe.

Gotion High Tech is involved in producing battery components, including cathode materials, cell cores, and battery management systems. The company also manufactures lithium-ion batteries.

Despite promises that the $3 billion industrial complex proposed by the Lee & Man-Hokuetsu joint venture will create a breakthrough in foreign investment attraction for Ha Tinh province, authorities are mulling over environmental pollution risks.

Vingroup is planning to develop another automobile and parts manufacturing plant and seaport in the central province of Ha Tinh.

The conglomerate Vingroup, through VinES Energy Solutions JSC, announced cooperating with Gotion Inc. to develop its second lithium battery factory with the total investment capital of VND6.3 trillion ($273.9 million) in the central province of Ha Tinh.

Ha Tinh Economic Zone Management Authority has approved the investment planning of the second battery factory invested by VinES Energy Solutions JSC, a subsidiary of the conglomerate Vingroup.