Business

Hai Phong inaugurates Lithium-Ion, Ni-MH battery plant

Exquisite Power Vietnam Co., Ltd. has inaugurated its Lithium-Ion and Ni-MH battery production facility in Nam Dinh Vu Industrial Park, the northern port city of Hai Phong.

Delegates cut ribbons to inaugurate a Lithium-Ion and Ni-MH battery production facility in Nam Dinh Vu Industrial Park, the northern port city of Hai Phong. (Photo: VNA)
Delegates cut ribbons to inaugurate a Lithium-Ion and Ni-MH battery production facility in Nam Dinh Vu Industrial Park, the northern port city of Hai Phong. (Photo: VNA)

Hai Phong (VNA) - Exquisite Power Vietnam Co., Ltd. has inaugurated its Lithium-Ion and Ni-MH battery production facility in Nam Dinh Vu Industrial Park, the northern port city of Hai Phong.

This project marks a significant milestone for the city's growing industrial landscape.

The factory, with a total investment of 20 million USD, spans 13,650 smq and aims to cater to the increasing global and domestic demand for advanced batteries. Beyond economic benefits, the project is expected to create jobs, enhance income levels, and contribute to social welfare in Hai Phong.

Since receiving its investment registration certificate in July 2023, the project progressed rapidly, showcasing Exquisite Power’s commitment to efficiency and safety.

In Hai Phong city, China is the second-largest investor, with 241 projects totaling 6 billion USD, accounting for 23% of the city’s FDI.

Leading corporations such as Flat, Tongwei, and TP Link have chosen Hai Phong for its robust infrastructure, including modern ports, highways, railways, and international connections via the Mong Cai–Hai Phong expressway and the Kunming–Lao Cai–Hai Phong railway.

The city’s new southern coastal economic zone, designed with green and sustainable principles aligned with ESG and net-zero targets, offers significant incentives to attract foreign investors, particularly from China.

Vincent, General Director of Exquisite Power Vietnam, emphasised the company’s strategy to integrate sustainability into its operations. By optimising upstream and downstream supply chains, the company aims to enhance global production capacity while maintaining a focus on environmental, social, and governance (ESG) standards.

The plant will adhere to sustainable practices, aiming to balance economic performance with green initiatives, aligning with Hai Phong’s vision for industrial green transformation.

Le Trung Kien, Head of Hai Phong’s Economic Zone Management Board, urged Exquisite Power to continue leveraging its achievements by integrating advanced, eco-friendly technologies and actively participating in workforce training and social welfare programmes.

This inauguration underscores Hai Phong's position as a prime destination for industrial investment, enhancing Vietnam-China relations as the two nations celebrate the 75th anniversary of diplomatic ties./.

VNA
#Hai Phong #battery production facility #foreign investors
Follow VietnamPlus

Related News

Workers at a Taiwanese company in An Duong industrial part, Hai Phong city. (Photo: VNA)

Hai Phong, Quang Ninh attract 7.82 billion USD in FDI in 2024

With 7.82 billion USD in foreign direct investment lured in 2024, the port city of Hai Phong and the northeastern province of Quang Ninh continued affirming their strong attraction as the two pillars of the northern economic triangle, that includes Hanoi.

See more

Workers process tra (pangasius) for export (Photo: VNA)

Vietnam–Singapore trade continues to thrive

For the year as a whole, Vietnam retained its position as Singapore’s 10th largest trading partner. Bilateral trade reached a record high of nearly 40 billion SGD, up 26.2% from the previous peak of 31.67 billion SGD recorded in 2024.

Eric Van Vaerenbergh, an energy expert and lecturer at the Brussels Engineering School (ECAM) (Photo: VNA)

Belgian expert optimistic about Vietnam’s economic outlook

Vietnam should move from a growth model based mainly on expanding capital and labour to one driven by productivity improvements. He said that this requires enhancing the quality of the workforce, particularly engineers, technicians, and managers in industrial sectors.

Workers at the VSIP Hai Phong industrial and urban complex, which specialises in producing electronic components for office equipment. (Photo: VNA)

Roadmap aims to improve business climate and boost competitiveness

By the end of 2026, Vietnam aims to rank among the world’s top 50 performers in the United Nations Sustainable Development Goals, advance at least three places in the International Property Rights Index, and climb at least one position in the Global Innovation Index.

Vietnam is strengthening its position in the technology value chain, becoming a major manufacturing hub for complete consumer electronics products. (Photo: VNA)

ESG standards offer opportunities to reposition Vietnam’s electronics firms

The 2025-2027 period will be a critical turning point, as exporters to the European market will be required to strictly comply with ESG standards, including net-zero emissions roadmaps, labour standards, corporate governance and transparency requirements. As a key export sector, the electronics industry is being directly and strongly affected by this shift.

A production line for camera modules and electronic components at the factory of MCNEX VINA Co. Ltd, a Republic of Korean-invested company in Phuc Son Industrial Park, Ninh Binh province. (Photo: VNA)

Science, technology, innovation as engines of economic growth

To ensure that science and technology truly act as a powerful growth engine, experts emphasised the need for the Government to put in place supportive mechanisms and policies that encourage enterprises to invest in research and development, while strengthening cooperation among the State, research institutions and the business sector.

The headquarters of the Ministry of Industry and Trade in Hanoi (Photo: VNA)

PM updates lead roles to drive UKVFTA forward

The Ministry of Industry and Trade (MoIT) is named the lead agency, with overall responsibility for the agreement’s general goals and definitions, trade remedies, non-tariff barriers to trade and investment in renewable energy, competition policies, State-owned enterprises, enterprises with special or exclusive rights and those with designated monopolies, as well as institutional, general and final terms.

Vietravel Airlines is taking measures to enhance service quality and optimise operations amid high travel demand during Tet. (Photo: VNA)

Vietravel Airlines to add new route serving Lunar New Year travel peak

During the peak period of the Lunar New Year (Tet) festival in 2026, Vietravel Airlines plans to operate six – eight flights daily on the Ho Chi Minh City – Hanoi route, three flights daily on the Ho Chi Minh City – Da Nang and Ho Chi Minh City – Vinh routes; and two flights daily on the Ho Chi Minh City – Quy Nhon route.

The completion of Can Tho - Ca Mau expressway has helped shorten travel time from Can Tho to Ca Mau to just one hour and a half (Photo: VNA)

Can Tho–Ca Mau expressway fully opens from January 19

The new section, together with the Can Tho–Hau Giang segment that has been operating smoothly since late December last year, has completed the entire 110.85-km route. With total investment exceeding 27.52 trillion VND (1.04 billion USD), the four-lane expressway is built to modern standards and serves as a key transport artery linking major economic and political centres, industrial zones and seaports in the southwestern region.