The Australian government has, through its Australian Climate Finance Partnership (ACFP) administered by the Asian Development Bank (ADB), granted a technical assistance package to the VinES Energy Solutions JSC (VinES).

The package aims to support the study towards promoting the growth of lithium-ion battery technology and sustainable production of batteries for electric vehicles in Viet Nam as well as job creation opportunities along the supply chain.

The technical assistance package is a part of the strategic support of the ADB and the Australian government for Viet Nam's transition to a low-carbon economy. Accordingly, VinES will receive US$500,000 from the Australian Department of Foreign Affairs and Trade to help Viet Nam achieve its net-zero transition goals by 2050.

The bank and the Australian government, as a part of the ACFP, with VinES, are conducting a study to propose solutions to such topics of developing sustainable and diversified supply chains for production of batteries in Viet Nam aligned with anticipated demand from domestic EV manufacturers for such batteries; identifying best practices for environmentally responsible repurposing/recycling of EV used batteries; and mapping opportunities for job creation and upskilling of workers along the supply chain for EVs.

VinES CEO Pham Thuy Linh said the company appreciates this meaningful support from the Australian government and ADB to VinES as a contribution to a sustainable energy future through understanding and tackling ongoing challenges to the lithium-ion battery technology. The technical assistance also reflects the recognition of our efforts to become a global green energy solutions provider in e-mobility and clean energy sectors, contributing to Viet Nam's transition to a low-carbon economy.

As lithium-ion batteries play an increasingly critical enabling role in EV and renewable energy industries, the study and development of battery supply chains and repurposing/recycling will create a profound momentum for further growing lithium-ion battery technology. The study will also help identify job creation opportunities along the supply chain, with special attention paid to the consideration of workers' gender and disability status.

The technical assistance package firmly validates VinES's commitments to the clean energy future and its technical capabilities, as well as contributes to driving positive impacts on developing a sustainable energy sector and low carbon mobility in Viet Nam.

Previously, the Australian government invested $50 million and ADB provided $950,000 in technical assistance to VinFast last June to promote e-mobility in Viet Nam. — VNS