At the signing ceremony (Source: VinFast)Under the new partnership, the companies are exploringglobal recycling solutions for VinES and VinFast, a global electric vehiclemanufacturer that is also part of Vingroup.
The cooperation is expected to support VinES and VinFast intheir creation of a closed-loop battery supply chain to enhance theirenvironmental goals and contribute to the global electrified revolution withgreen mobility solutions.
Pham Thuy Linh, CEO of VinES said that the firm aims tobring sustainable solutions and minimise the impacts of its business andoperations on the environment for a greener future.
Meanwhile, Ajay Kochhar, co-founder and CEO of Li-Cycle saidthat he believes this partnership will be a significant step in his company’sgoal to be the leading and preferred global lithium-ion battery recyclingpartner and a launching pad to foster and deepen its commercial relationshipswith VinES and VinFast. “We all share a vision to advance a sustainable,efficient and closed-loop battery supply chain,” said Kochhar.
In addition to a significant manufacturing complex inVietnam, VinFast announced plans to build a large EV manufacturing facilityin North Carolina in March 2022. VinFast was granted an incentive package of 1.2billion USD from the State of North Carolina. and expects to invest 2 billionUSD to build the project’s first phase, which is designed to have capacity ofproducing 150,000 vehicles per year. VinES expects to continue to expand itscurrent battery manufacturing capabilities in Vietnam and is exploringexpansion into international markets.
Li-Cycle’s patented and sustainable lithium-ion batteryrecycling technologies, including its Spoke & Hub Technologies, are anexcellent fit in both scale and scope for VinES and VinFast’s current andplanned manufacturing capabilities./.
VNA
