Chinese investor inaugurates Li-ion and Ni-MH battery factory in Hai Phong

The factory that produces Li-ion and Ni-MH batteries, was built on a 13,650 m² workshop area, with a total investment of US$20 million.

It not only focuses on meeting the growing global and Vietnamese market demand but also contributes to shifting the economic structure, creating numerous job opportunities for local people, generating income for workers, and ensuring social security, said Le Trung Kien, head of the Hai Phong Economic Zone Authority, at the inauguration ceremony.

Vincent, general director of the Vietnam Exquisite Power Technology Co. Ltd., emphasised that the group’s decision to invest in the project is based on the potential growth of the local market and business expansion prospects, as well as a positive response to regional economic integration trends.

With the aim of implementing the group's development strategy to better meet the needs of global customers in the future, Vietnam Exquisite Power Technology Co. Ltd. will continue to set up additional overseas manufacturing facilities, enhance comprehensive production capacity from battery cells to packs in international regions, and further expand the industrial field in the country, he noted.

“We are committed to promoting environmental, social and governance (ESG) standards, ensuring that the factory not only brings economic efficiency but also focuses on green business operations and sustainable development in Vietnam,” he stressed.

At present, China has become a key partner in multiple fields in Hai Phong city, including in environmental issues, education, training, health, and agriculture. It ranks second among 42 countries and territories investing in the northern city.

At present, Hai Phong has 241 Chinese invested projects with a total investment capital of US$6 billion, accounting for 23% of total FDI capital in economic zones and industrial parks in the locality.