Modern Australian
Men's Weekly

.

VinFast to acquire VinES Energy Solutions to step up its integrated supply and production chain

HANOI, VIETNAM - Media OutReach - 11 October 2023 – Vingroup's Chairman, Mr. Pham Nhat Vuong, announces that he will donate 99.8 percent of VinES Energy Solutions Joint Stock Company's shares to VinFast.

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.

Photo 1 (1).jpg


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 billion ($270 million). The company specializes in researching, developing, and manufacturing advanced lithium-ion batteries for mobility and energy storage applications. VinES also cooperates with leading global battery technology partners and seeks to become a comprehensive energy solution provider.

Under the terms of the merger, VinFast will acquire all VinES' intellectual property related to battery cells, battery packs, manufacturing facilities, technology, partnerships, and supplier contracts. This comprehensive acquisition of VinES' battery technology and modern manufacturing facilities is an important step in completing VinFast's fully integrated production chain and creates an unparalleled competitive advantage for VinFast in the global electric vehicle market.

Ms. Le Thi Thu Thuy, Vice Chairwoman of Vingroup and Global CEO of VinFast shared: "The acquisition of VinES will help VinFast control our battery technology and supply chain, thus optimizing operating expenses and enriching technology content in our electric vehicles. This is also an important step towards developing and controlling an integrated supply chain as well as comprehensive manufacturing system to further strengthen our competitiveness."

In April 2023, Mr. Pham Nhat Vuong signed an agreement committing him to donate USD 1 billion from his personal assets to VinFast. Vingroup, together with Mr. Vuong, also announced the contribution of a further USD 500 million to VinFast in non-refundable grants as well as a guarantee for a loan of USD 1 billion carrying a maximum tenor of five years to support VinFast's growth and global expansion plans.

For more information, please visit: https://www.sec.gov/Archives/edgar/data/0001913510/000119312523253903/d535412d6k.htm
Hashtag: #VinFast #VinES

The issuer is solely responsible for the content of this announcement.

Elevate Your Wardrobe with MESHKI: Timeless Style for the Modern Australian

Elevate Your Wardrobe with MESHKI: Timeless Style for the Modern Australian Fashion is more than just clothing—it’s an expression of confidence, ...

Beyond Clicks and Likes: Why Many Small Businesses in Australia Still Aren’t Leveraging Digital Marketing in 2025

Introduction In 2025, online marketing has become the driving force behind business growth for companies of all sizes. Yet, despite its proven effect...

Lighting Shop Perth: Your Comprehensive Guide to Choosing the Right Lighting Solutions

Lighting is a fundamental element in defining the ambiance, functionality, and aesthetic appeal of any space. Whether you are renovating your home, ...

Private Booze Cruisers – The New Must-Have Toy for Cashed Up Millennials

Did you hear that your 30s are the new 20s? We’ve finally rocked up that adult money and now it’s time to play with it. I was going for a walk ...

Grinding & Jaw Soreness: Signs You Might Need Night Guards and How We Protect Enamel

Waking with a tight jaw, tender muscles, or a dull temple headache is more than a bad night’s sleep. Many Australians grind or clench their teeth ...

Circular Interior Design: Furnishing with Salvaged & Reclaimed Materials

Circular interior design is gradually making its way from niche circles into mainstream Australian homes. At its core, this approach revolves around...

Invisible Braces vs Traditional Braces: Which Is Best for Adults?

Straightening teeth as an adult is common in Australia, and the options are better than ever. The two main choices are clear aligners, also called i...

Smoking, Vaping, and Healing: How Nicotine Affects Sockets and What you can do About it

Nicotine and oral surgery are a poor mix. After an wisdom teeth removal in Sydney, your body needs a stable blood clot and steady blood flow to rebu...

Titanium and Bone: How Dental Implants Become Part of the Jaw

Dental implants replace missing teeth by anchoring a metal fixture in the jaw and fitting a crown on top. Their success rests on a biological event ...

Do Wisdom Teeth Really Make You Wiser? Debunking Old Beliefs

Wisdom teeth are among the most discussed teeth in dentistry, not because of their function but because of the myths that surround them. The name it...

How Long Do Dental Implants Really Last? The Facts Dentists Won’t Skip

Australians often ask one simple question before green-lighting treatment: how long will a dental implant actually last? The short answer is that th...

The Confidence Curve: Why Implants Change the Way You Carry Yourself

Losing a tooth is not just a physical change; it alters the way people see themselves and how they believe others perceive them. While dentistry has...

Why Reliable Air Conditioning Services Are Essential for Year-Round Comfort

Melbourne’s climate is known for its unpredictable swings—from scorching summers to chilly winters. This variability makes it crucial for homes ...

Expert Plumbing Solutions in Perth: From Hot Water Systems to Leak Detection

Plumbing is one of those things we often take for granted—until something goes wrong. From stepping into an unexpectedly cold shower to discovering ...

Eco-smart Car Removal in Sydney: Practical Steps That Cut Waste and Return Value

Sydney’s ageing cars add up to a serious waste stream, and choosing the right removal service makes a measurable difference. Your decision sends m...

Measuring the Success of Your Bus Advertising Campaign

Bus ads turn everyday travel into high-reach media. They move through busy corridors, sit in traffic where people can read them, and keep working af...

Partner Visa Pathways: Onshore vs Offshore Applications Explained

Choosing between Australia’s onshore and offshore partner visa routes affects timing, travel, work rights and budget. This guide explains the stru...

Serving Styles Compared: Buffet, Grazing, or Plated for the Office

Choosing how to serve food at a work function shapes the pace of the event, how people mingle and how smoothly the agenda runs. The right format dep...