Vingroup contributed 51 per cent of VinES’s charter capital and 99.8 per cent of VinAI’s. — Photo vietnambiz.vn

Two new subsidiaries under the Vietnamese conglomerate VinGroup – VinES Energy Solutions JSC (VinES) and VinAI Artificial Intelligence Application and Research JSC (VinAI) – have been established with charter capital of VND1 trillion (US$43.68 million) and VND425 billion, respectively.

Founded on August 4, both companies are located at the Vinhomes Riverside urban area in Ha Noi’s Long Bien District.

Vingroup contributed 51 per cent of VinES’s charter capital and 99.8 per cent of VinAI’s.

VinES's main business is manufacturing batteries and accumulators. Its production will complement the group's strategy of developing electric vehicles at its automotive manufacturer VinFast.

Meanwhile, VinAI works on scientific and technological research and development. — VNS