VinFast Merges with VinES Energy Solutions to Strengthen Position in Electric Vehicle Market.

MANews-(C)2009-2023

Viet Nam-based Vingroup's, focussed on technology, industry, real estate development and retail, has announced its chairman, Pham Nhat Vuong, will donate 99.8 % of VinES Energy Solutions Joint Stock company's shares to VinFast, the company said.

The merger is designed to enhance VinFast's 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 VND 6,500 bn (USD270 m). The company specialises in researching, developing, and manufacturing advanced...

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