Companies are increasing their investments in the battery industry for electric vehicles

VIETNAM, July 30 –

By Minh Hương

HÀ NỘI — As Việt Nam’s electric vehicle (EV) market grows, the demand for batteries and energy storage solutions is accelerating and attracting the attention of many investors.

The proportion of electric vehicles is increasing by around 7% per year, according to data from the Việt Nam Register. Local media reported that the number of imported electric vehicles increased by about 500% in 2020 from 140 electric vehicles in 2019. It is expected that in 2022, a number of electric vehicle models will be introduced, including including new buses and cars.

Đào Công Quyết, a representative of the Việt Nam Automobile Manufacturers Association (VAMA), said: “VAMA believes that Việt Nam has the potential to develop electric vehicles, which will account for 100% of personal vehicles and buses. electricity by 2045.

Committed to reducing its emissions to net zero by 2050, Việt Nam actively participates in international conventions on environmental protection, focusing on the development of electric vehicles.

Moreover, in order to develop the electric vehicle industry, the prime minister approved a plan to mine ores such as gold, copper, nickel ore and molybdenum by 2025.

“The demand for nickel in Việt Nam will continue to grow as the trend towards using electric vehicles increases,” said Scott Williamson, managing director of Blackstone Minerals.

Vietnamese companies are investing more in the production of electric vehicles, which shows that Việt Nam’s goal is to be at the forefront of the global movement towards vehicle electrification and the replacement of fuel-powered vehicles. fossils in the future.

Seizing global trends and market demand as well as local mineral potential, as well as its experience in the mining industry, Blackstone Minerals has acquired a 90% stake in Bản Phúc Nickel Mine Co., Ltd in the north of the province of Sơn La in 2019.

Late last year, VinES Battery Factory, with a total investment of VNĐ 4 trillion ($173 million) in Phase 1, opened in Vũng Áng Economic Zone, Vũng Áng Province. Hà Tĩnh. The plant will supply lithium batteries for VinFast electric cars and electric buses.

The company said that in phase 1, the plant has a capacity of 100,000 car batteries per year, while phase 2 will be expanded to produce battery cells and increase its capacity to 1 million car batteries per year. .

Nguyễn Văn Quang, General Manager of Bản Phúc Nickel Mine, said News from Việt Nam: “Vinfast is preparing to manufacture batteries for electric cars in Hà Tĩnh and Hải Phòng. We are trying to move towards cooperation with Vinfast. Energy storage and car batteries are the two main reasons why Việt Nam’s nickel consumption potential in the near future is very high.

Quang added, “The company plans to produce NCM811 for the domestic market and the growing lithium-ion battery industry. Việt Nam will become a major partner for countries with high demand for nickel, while projects and products with very low or zero CO2 emissions will be given priority.

As demand for electric vehicles increases, a lack of mined and refined battery metals, similar to the current shortage of microchips, could likely lead to a severe but temporary global battery shortage, according to the latest version of Masan High-Tech Materials Corporation (MHT), a member of the Masan Group in Việt Nam.

In order to prevent this from becoming a problem, Craig Bradshaw, CEO of Masan High-Tech Materials Corporation (MHT), which owns the largest deposits of tungsten at the Núi Pháo mine in Thái Nguyên, in northern Việt Nam, said the industry is reducing its use of limited resources, developing new battery materials and technologies, and increasing global battery recycling.

Aiming to become a leading integrated supplier of advanced high-tech materials critical to global innovation, MHT CEO said News from Việt Nam“The battery market is expected to experience significant growth over the next few years due to the growing consumption of rechargeable batteries and the increasing adoption of electric vehicles. This trend has fueled the demand for innovation, leading to increased investment in batteries from global battery companies.

The CEO highlighted the important role that stationary energy storage will play in the fight against global warming, making the battery industry one of the most important industries in the world over the next ten years, calculating that the The total addressable battery market is expected to reach over $200 billion by 2026.

He added in 2020, Japanese giant Mitsubishi Materials Corporation, which has invested US$90 million in MHT, and its partner has developed technology for recycling cobalt, nickel and other metals contained in lithium-ion batteries. (Li-ion) for electric vehicles.

As for MHT, which is owned by the local Masan Group, a wholly-owned subsidiary of MHT has recently taken a big step forward in the adoption of tungsten-based coatings in the production and use of batteries. Most recently, in mid-July 2022, HC Starck announced the signing of agreements to invest £45 million ($55 million) in Nyobolt Limited, a fast-charging Li-ion battery solutions company that operates HC Starck’s advanced tungsten materials in its anode, for a 15% interest on a fully diluted basis.

MHT Deputy CEO and HC Starck CEO Hady Seyeda said, “With the global push for electric vehicles, making batteries safer and improving their performance is a critical part of wider adoption and application.”

Globally, major industry players were making substantial investments in battery technology optimization research, the MHT chief said, adding that the search for advanced battery solutions was a “race vigorous, in which global businesses were working towards an economic circular that promotes sustainable economic growth while protecting the environment.

Bradshaw said News from Việt Nam“As we have worked with different battery manufacturers looking to achieve better battery performance, we see significant market potential for our tungsten products to go to the electrolyte side or the anode side and battery cathode.” —VNS

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