Australian govt to provide $500K in technical support to VinES Energy Solutions

The Australian Government and the Asian Development Bank (ADB) have announced that VinES Energy Solutions JSC (VinES) will receive technical assistance worth $500,000 from them. The package, which is managed by the Australian Climate Finance Partnership (ACFP), aims to support Vietnam’s sustainable development and production of lithium-ion battery technology for electric vehicles (EVs).

The Australian Department of Foreign Affairs and Trade, the ADB, and the ACFP are collaborating strategically to help Vietnam transition to a low-carbon economy, and this grant is a part of that effort. This initiative is expected to encourage job growth throughout the supply chain for battery production.

Together with the ADB and the Australian Government, VinES plans to carry out an extensive study. The development of sustainable and diverse supply chains for battery production in Vietnam, investigation of best practices for the environmentally sound reuse and recycling of used EV batteries, and identification of potential areas for job creation and worker upskilling within the EV supply chain are among the main goals of the study.

VinES CEO, Ms. Pham Thuy Linh, expressed her gratitude for the grant, stating, “We very much appreciate this meaningful support from the Australian Government and ADB. The Technical Assistance reflects our efforts to become a global green energy solutions provider, contributing to Vietnam’s transition to a low-carbon economy”.

For the EV and renewable energy industries, lithium-ion batteries are becoming even more essential. The upcoming study is expected to accelerate the development of lithium-ion battery technology and highlight employment opportunities with a particular emphasis on gender and disability considerations.

VinES’s dedication to clean energy and its technical prowess are both strongly affirmed by the Technical Assistance package. It is anticipated to benefit Vietnam’s low-carbon transportation industry and sustainable energy sector.

Prior to this, the Australian Government invested USD 50 million in VinFast, a Vingroup company like VinES, and the ADB offered USD 950,000 in technical assistance to VinFast in June 2022 to support e-mobility in Vietnam.