A worker is busy at a battery company plant of Gotion High-tech Co., Ltd. in Hefei, east China's Anhui Province, June 19, 2020. (Xinhua/Huang Bohan)
BEIJING, Nov. 21 (Xinhua) -- Chinese battery manufacturer Gotion High-tech Co., Ltd. (Gotion, 002074.SZ) and VinES Energy Solutions (VinES), a power batter production unit of Vietnam's largest conglomerate Vingroup JSC, commenced construction of a lithium iron phosphate (LFP) battery plant in Vietnam on Novermber 18.
The plant is Vietnam's first LFP battery plant, in which Gotion has 51 percent stake and VinES has 49 percent stake.
The VinES-Gotion battery plant, covering an area of 140,000 square meters, is located in Vietnam's central province of Ha Tinh. It is designed to have an annual capacity of 5GWh in the first phase and expected to kick off production in the end of 2023.
Upon operation, the factory will help meet the battery needs of VinFast, an electric vehicle production arm of Vingroup, according to Li Zhen, chairman of Gotion. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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