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VinES to receive technical assistance package from Australia

VinES to receive technical assistance package from Australia The Australian government on May 16 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 vehicle in Vietnam 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 Vietnam's transition to a low-carbon economy. Accordingly, VinES will receive 500,000 USD from the Australian Department of Foreign Affairs and Trade to help Vietnam 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 Vietnam aligned with anticipated demand from domestic EV manufactures 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 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 Vietnam'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 chain 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 worker's gender and disability status.

The technical aassistance package firmly validates VinES's commitments to the clean energy future and its technical capabilities, as well as contributing into driving positive impacts on developing sustainable energy sector and low carbon mobility in Vietnam.

Previously, the Australian government invested 50 million USD and ADB provided 950,000 USD technical assistance to VinFast in last June to promote e-mobility in Vietnam./.