Marubeni Green Power Vietnam, a wholly owned subsidiary of Marubeni—one of Japan's largest general trading 'sōgō shōsha' companies—partnered with Vietnamese counterpart VinGroup for the 1.8MW/3.7MWh lithium-ion (Li-ion) battery energy storage system (BESS) project.
HANOI, Nov 18 (Reuters) - VinES Energy Solutions, a unit of Vietnam's largest conglomerate Vingroup JSC (VIC.HM) and China's Gotion High-Tech (002074.SZ), have commenced construction of a $275 million battery factory in the Southeast Asian country, Vingroup said on Friday.
The factory in the central province of Ha Tinh will annually produce 30 million lithium iron phosphate (LFP) battery cells, the company said in a statement. The cells will be used for electric vehicle batteries and energy storage systems, it said, adding that the factory is scheduled to start production in the third quarter of next year.
Lead acid batteries continue to dominate the Southeast Asian battery market, holding approximately 65% market share in 2024. This dominance is primarily driven by the automotive industry and data centers, which extensively use lead acid batteries for power storage applications.
The data center industry in Southeast Asia particularly favors lead acid batteries, though recent technological advancements and declining costs of alternative technologies are beginning to influence the market dynamics.
The Southeast Asian battery market is undergoing a significant transformation driven by technological advancements and shifting energy priorities. The region has witnessed a dramatic reduction in lithium-ion battery prices, making electric vehicles and energy storage solutions increasingly viable for widespread adoption.
Research endeavors have focused on integrating carbon into NAMs to develop enhanced LABs, commonly referred to as lead-carbon batteries (LCBs). This advancement in battery technology has been comprehensively examined in existing scholarly reviews (Mahadik et al., 2023). FIGURE 7.
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