Although it is making the Korean and Japanese battery industries ‘smoke’, Chinese batteries do not worry VinES because according to Ms. Pham Thuy Linh – General Director of VinES, they still have certain competitive advantages.
In the past 10 years, thanks to the support of the Government and the exploding green car trend in the country (the growth rate of electric cars in China in a decade has been faster than many decades of growth in the Japanese and European markets). Europe or North America) Chinese battery companies have grown strongly in both output and the speed of battery technology development. Even for car manufacturers such as Tesla, Volkswagen, Hyundai, BMW… equipping batteries from China on car models sold in this market also helps them have a certain competitive advantage.
And CATL is the battery company that has this advantage and has grown rapidly, surpassing LG Chem, Panasonic, SK On, and Samsung SDI to lead the battery supply chain for 6 consecutive years. The explosion of the domestic electric vehicle market also caused another name, BYD, to rise to the 3rd position in global battery market share, even surpassing LG Chem, which ranked 2nd in the field of electric vehicle batteries. Even 6/10 battery companies with the largest market share in the world in the past year also belonged to China, previously that advantage belonged to Korea and then Japan.
China’s battery market share is forecast to decrease in the future but still plays a dominant role in the market
Advantages in output, technology, selling price and billion-people market dominate the decision to choose battery supply partners of major global car manufacturers. Chinese battery companies are truly “shadows”. “ghost” covers the Korean and Japanese battery industries. Although in the era of electric vehicles, many predictions show that battery companies from Korea, Japan, even Europe and the US will grow again, but one thing is certain that the battery manufacturers coming Although China cannot maintain its current market share, it will still be a major “force” dominating the global battery market.
In this picture, VinES may currently be just a small dot, but according to Ms. Pham Thuy Linh, the market demand for batteries is extremely large, it could be 6 times higher than the current one by 2030. China alone cannot embrace the sky while many countries, especially North America and Europe, are moving to limit batteries from China by diversifying their supply. Therefore, opportunities come to many people including VinES. This is also the reason why VinES, even though it is a new company with many difficulties and challenges, such as starting out when going out to exchange with foreign partners, still has the opportunity to offer its products and services.”
Also according to the CEO of VinES battery company, compared to China, Vietnam also has an advantage when the tariff for exporting batteries to markets like North America is about 2.5 times cheaper. Is a friendly trading partner with Europe and many countries around the world. In addition, VinES is currently the only company in Southeast Asia that is proactive in technology, research, production, and packaging of battery cells. This is an extremely important advantage when import tax in the region is 0%.
In addition to China, Japan, Korea, North America, and Europe, it is expected that the market will have a significant contribution from “foreign” companies such as VinES.
Of course, VinES does not rely only on objective advantages, Ms. Pham Thuy Linh said, the company understands that if it wants to compete in the long term, it must take core technology as its advantage. In addition to moving fast by cooperating with partners from Israel, the US, the UK, Europe, Korea, but often with derivative technology, VinES also proactively gathers a product research and development team that gathers the elite in the industry. and abroad to develop core technology as well as diversify products and applications in many different fields.
Although VinES representatives refused to disclose the amount of money invested in research, it is in a closed value chain with the goal of being proactive in technology and production to serve a long-term vision. In particular, the company has purchased precious raw materials from many countries since its establishment until now to serve the above goal.
VinES Energy Solutions Join Stock Company is a joint stock limited company under Vingroup specializing in research, development and production of batteries for electric vehicles. In particular, VinES has Lithium-ion battery cell production technology research institutes to serve the production of electric vehicle batteries.
Along with the demand for electric vehicles in particular and clean energy in general, VinES has the potential to develop further and contribute greatly to the overall development of VinFast in the near future.
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